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Century Paper and Board Mills Limited’s issuance of right shares

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Karachi, May 09, 2013 (PPI-OT): We refer to your letter No.KSE/C-666-1553 dated 27 March 2013 in respect of approval of issuance of Right shares @ 25% at a premium of Rs. 10/- per share and confirm that all the Directors of the Company have subscribed their portion of right shares 15 days in advance of the Last date of payment/ renunciation i.e. 24 May 2013 as under:


                                   Number of Right shares          Subscription
   Name of Director                Offered and subscribed          Received (Rs.)

Mr. Iqbal Ali Lakhani                       324                        6,480
Mr. Zulfiqar Ali Lakhani                    165                        3,300
Mr. Amin Mohammed Lakhani                   279                        5,580
Mr. Tasleemuddin A. Batlay                  594                       11,880
Mr. Shahid Ahmed Khan                       300                        6,000
Mr. Kemal Shoaib                            125                        2,500
Mr. Abdul Aziz (Nominee NIT)                 -                           -
Mr. Aftab Ahmad                             820                       16,400

We also enclose herewith the following documents as desired vide para 6 of your above referred letter:

1. Photocopy of Certificate No.C-73/0751/13 dated 08 May 2013 received from the auditors of the Company M/s. BDO Ebrahim and Co., Chartered Accountants.

2. Copy of Notification to be published in newspapers.

Copies of the newspapers containing the aforesaid notification will be sent to you after its publication.

Kindly acknowledge.

BDO Ebrahim and Co. Chartered Accountants

Certificate on Right Share Subscription by Directors of Century Paper and board mills Limited

As requested by you, we have examined the books and records of the Company and checked the receipt of the following amounts from Directors of the Company representing subscription money in respect of the Letter of right issued to them:-


                                                                 Subscription
        Director name                      Number of               received
                                          right shares             (Rupees)

Iqbal Ali Lakhani                             324                   6,480
Zulfiqar Ali Lakhani                          165                   3,300
Amin Mohammed Lakhani                         279                   5,580
Tasleemuddin Ahmed Batlay                     594                  11,880
Shahid Ahmed Khan                             300                   6,000
Kemal Shoaib                                  125                   2,500
Abdul Aziz (Nominee Director NIT)             -                       -
Aftab Ahmad (CEO)                             820                  16,400
Total                                       2,607                  52,140

Further, we confirm that we have checked that the afore-mentioned subscription money was received at least 15 days in advance of the last date of payment/ renunciation of letter of rights (i.e. May 24, 2013).

The offer of right shares at a premium of Rs. 10 per share in the ratio of one share for every four shares registered in the name of the respective shareholders on March 28, 2013 was approved by the Board of Directors at their meeting held on February 22, 2013.

The above right issue was approved by the Karachi Stock Exchange vide their Letter No. KSE/C-666-1553 dated March 27, 2013 a Lahore Stock Exchange vide their Letter No. LCS/1456 dated March 28, 2013.

This Letter is being issued without prejudice at the request of the management.

BDO Ebrahim and Co.

Subscription of Right Shares by the Directors

We are pleased to inform all concerned that the Directors of Century Paper and Board Mills Limited have fully subscribed their portion of right shares at the subscription price of Rs. 20 per share more than 15 days in advance of the last date of payment in terms of their undertaking given to the Karachi Stock Exchange Limited and Lahore Stock Exchange Limited. The last date of payment is 24 May 2013.

For more information, contact:
Mansoor Ahmed
Company Secretary
Century Paper and Board Mills Limited
Lakson Square, Bldg. No .2,
Sarwar Shaheed Road,
Karachi –74200, Pakistan.
Tel: 3689 8000
Fax: 92-21-3568 6571 & 3568 3410,
Website: www.centurypaper.com.pk
E-mail: Mansoor-ahmed@centurypaper.com

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