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Thursday, February 25th, 2021

Altern Energy Limited’s sealed envelope

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by June 21, 2012 Miscellaneous

Karachi, June 21, 2012 (PPI-OT): Please find enclosed herewith sealed envelope regarding Board of Directors’ Meeting of Altern Energy Limited (ALTN) held on June 21, 2012 as desired by you.

Truly yours,
For Altern Energy Limited

Umer Shahzad
Company Secretary

Board Meeting

We have to inform you that the Board of Directors of our company in their meeting held on June 21, 2012 at 11.00 am hrs recommended the following.



4. Any Other Entitlement/ corporate Action

The Board has recommended to increase the paid up capital of the Company by Rs. 249,960,000/- by way of other than right issue i.e. by issuing further 20,830,000 ordinary shares of Rs. 10/- each at Rs. 12 per share (at premium of Rs. 2 per share) to Descon Engineering Limited (shareholder of Company) without offering right shares to all other existing shareholders as permissible Under section 86(1) of the companies Ordinance 1984 in order to meet the working capital requirements of the Company without increasing the external debt attracting extra financial cost on Company. This is subject to the approval of shareholders in their Extra Ordinary General be held on July 18, 2012, and subsequent approval from Securities & Exchange Commission of Pakistan.

(5) Any Other Price-Sensitive Information Nil

For more information, Contact:
Umer Shahzad
Company Secretary
Altern Energy Limited
Descon Headquarters:
18-km, Ferozepur Road, Lahore,
Tel: +92-42-3599 0034,
Fax: +92-42-3581 1135


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