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Husein Sugar Mills Limited’s Issuance of Right Shares

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Karachi: We are pleased to inform to that unpaid letter of rights (LOR) of those shareholders having shareholding through CDS have been credited into book entry form at the close of business on 27 May 2011 through CDC right offer procedure to respective account holders, sub-account holders and IAS account holders on the shareholding as of 19 May 2011. Schedules, payment procedure and payment schedule are as under:

Details of Trading, Subscription and Credit of right securities for CDS Account holders:

Activities Date
Date of commencement of trading of unpaid right at Stock Exchange(s) 06.06.2011
Last date of trading of unpaid right 08.07.2011
Subscription of right offer start date 30.05.2011
Last date of subscription of right offer 15.07.2011
Date of credit of right shares into CDS 30.07.2011

Payment Procedures:

1) Banker(S) To the Right Issue:

MCB Bank Limited (All authorized branches through out Pakistan)

2) Exercising the Right Offer in CDS:

a) For subscription of right offer CDS account holder will request in writing to his CDC participant / IAS Dept to initiate Right Subscription Request into CDS on his behalf and CDC participant / IAS department will provide him two copies of Right Subscription Request printouts enabling him to make the payment with authorized banker(s) to the right issue.

b) Right Subscription Request can be initiated for full or partial right offer.

3) Payment:

a) Payment as indicated on Right Subscription Request should be made by cash or crossed cheque or demand draft or pay order made out to the credit of “Husein Sugar Mills Limited (HUSS) Right Shares Subscription Account” through any of the authorized branches of above mentioned bank(s) on or before 15.07.2011 along with Right Subscription Request duly filled in and signed by the subscriber(s).

b) In case of Non-Resident Pakistani / Foreign shareholder, the demand draft of equivalent amount in Pak Rupees should be sent to the Company Secretary, Husein Sugar Mills Limited at the registered office of the company along with Right Subscription Request (both copies) duly filled and signed by the subscriber(s) with certified copy of NICOP / Passport well before the last date of payment.

c) All cheques and drafts must be drawn on a bank situated in the same city where Right Subscription Request is deposited. Cheque is subject to realization.

d) The Bank will not accept Right Subscription Request delivered by post which may reach after the closure of business on 15.07.2011, unless evidence is available that these have been posted before the last date of payment.

4) Acceptance of Payment through Right Subscription Request:

a) Payment of the amount indicated on Right Subscription Request to the Company’s Banker(s) to the issue on or before 15.07.2011 shall be treated as acceptance of the Right offer.

b) Two copies of Right Subscription Requests should be handed over to the Company’s Banker(s) to the issue intact. Client’s copy of Right Subscription Request will be returned to the subscriber whilst issuers copy will be retained by the Banker for onward transmission to the Company. The Client’s copy must be preserved and retained safely by the subscriber.

For more information, contact:
Syed Arif Hussain
Company Secretary
Husein Sugar Mills Limited
30 A/E-1, Old FCC, Gulberg III,
Tel: +9242 35762089-90, 35878153
Fax: +9242 5712680


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