Karachi Electric Supply Company Limited’s enhancement of paid up capital
Karachi, March 11, 2013 (PPI-OT): Reference: Our Letter No. SECK/KSE/13/44 dated 25 February 2013 (the “Letter”)
We refer to the Letter in response to your letter dated 20 February 2013 and forward, herewith, revised certificate issued by the Company’s External Auditors, KPMG Taseer Hadi and Co., with regard to confirmation of paid up capital of the Company and request you to kindly enhance the paid up capital in terms of number of shares and amount as certified by the Auditors.
Confirmation for revised Paid-up Capital of Karachi Electric Supply Company Limited
We understand that Karachi Stock Exchange has sought certain clarification from Karachi Electric Supply Company Limited (the Company) for the number of ordinary shares and amount of paid up capital outstanding after issuance of ordinary shares to Asian Development Bank and International Finance Corporation and conversion of Redeemable Preference Shares.
In this regard, we confirm that in addition to the information given in our letter ref: KA-ZS-734 and KA-ZS-745 dated 20 December 2012 and 24 December 2012 respectively, the revised position of the Company’s number of ordinary shares and paid up capital, after Issuance of ordinary shares to Asian Development Bank and International Finance Corporation and conversion of Redeemable Preference Shares would be as follows:
Number of ordinary shares Number 27,615,194,246
Face value per share Rupees 3.50
Paid Up Capital Rupees 96,653,079,861
(Transaction Costs incurred of Rs. 391,627,934)
For more information, contact:
Karachi Electric Supply Company Limited
Office and Postal Address: 3rd Floor, K.E.S.C. House,
39-B, Sunset Boulevard, Phase-II,
Defence Housing Authority, Karachi