The Crescent Star Insurance Company Limited’s material information/ right issue
Karachi, June 24, 2013 (PPI-OT): With reference to our letter dated June 13, 2013 regarding meeting of Board of Directors to discuss company’s affairs.
We have to inform you that the Board of Directors of our Company in their meeting held on June 22, 2013 at 1.00 P.M. at Nadir House, 2nd Floor, I.I. Chundrigar Karachi have decided for issuance of Right Shares to further raise the capital by Rs. 332,750,000 representing 33,750,000 ordinary shares of Rs 10 each to be offered to members in the Extra Ordinary General Meeting (EOGM), the date of which will be announced later, at discount in the ratio of 4:11 i.e. eleven Right Shares for every four Shares held i.e. 275% at a discount of Rs. 4 per share.
If approved by share holders at EOGM and after necessary approvals of all relevant authorities and SECP, the Paid Up Capital of the company will be Rs. 453,750,000, This enhancement will also meet the Minimum Capital Requirement of Rs. 300,000,000 as required by SECP.
For more information, contact:
Malik Mehdi Muhammad
The Crescent Star Insurance Company Limited
Nadir House, 2nd Floor,
I. I. Chundrigar Road,
P. O. Box: 4616, Karachi – 74000
Ph: 021-2415471 (3 Lines)
Fax: (92-21) 2415474