The Karachi Stock Exchange (Guarantee) Limited’s announcement of right issue
Karachi: This is in connection with our pervious correspondence(s) in respect of 25% right issue of Thatta Cement Company Limited (TCCL) offered to the shareholders for the purpose of generating funds to be utilized as equity investment for setting up of a wholly owned subsidiary of the Company, as described in the Circular 88(3) approved by the exchange and the Commission.
We hereby inform you that the proceeds of Rs. 299,154,375/- generated from the aforesaid right issue have been invested today into our wholly owned subsidiary M/s Thatta Power (Pvt.) Limited (TPPL) by subscribing to right issue of TPPL.
For more information, contact:
Muhammad Taha Hamdani
Karachi Stock Exchange
Tel: +9221 111 001 122
Fax: +9221 3241 0825, +9221 3241 5136