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The Karachi Stock Exchange (Guarantee) Limited’s announcement regarding issuance of right Shares

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Karachi: Please refer to your letter # KSE/C-1053-2765 dated May 03, 2011 on the subject We are enclosing herewith copy of Auditor’s Certificate dated June 29, 2011 regarding receipt of full amount of Rs. 3,786,815,745/- against 252,454,383 shares of Right Issue 3 of the Company along with Board of Directors’ resolution dated June 28, 2011 regarding offer of un-subscribed shares to the applicant and allotment of right shares to the subscribing shareholders/ applicants for unsubscribed shares for your information and record.

To Whom It May Concern

We, the auditors of the Bestway Cement Limited (“the Company”), have examined the books of accounts of the Company in relation to the issue of right shares (0.775 right shares for every one share held) and related documents and accordingly certify that the company has received Rs 3,786,815,745/- against the rights issue of 252,454,383 shares of Rs 15/- each offered to the directors, associated companies, and other shareholders listed below. These shares have been fully subscribed and paid in full as per detail below:

 

Sr. No.Name of ShareholdersShareholding (Shares)Right Entitlement (Shares)Right Shares SubscribedAmount paid (Rupees)
Directors
1Arshad Mehmood Chaudhary2,578,8231,998,5871,333,33319,999,995
Associated Companies
2Bestway (Holdings) Limited86,587,40567,105,23867,105,2381,006,578,570
Others
3Directors’ relatives9,107,6937,058,4606,393,20695,898,090
4Other Shareholders1,9511,5111,51122,665
Sub Total98,275,87276,163,79674,833,2881,122,499,320
Unsubscribed Shares Subscribed by:
5Associated Companies30,422,121456,331,815
6Directors’ relatives147,198,9742,207,984,610
———–————-
Total252,454,3833,786,815,745

 

After the above subscription the revised paid up capital of the Company will be as follows:

Number of SharesAmount Rupees
Existing325,747,5913,257,475,910
New252,454,3832,524,543,830
Total578,201,9745,782,019,740

 

This certificate is issued at the request of the Company to comply with the requirement of the Karachi Stock Exchange (Guarantee) Limited.

For more information, contact:
Karachi Stock Exchange
Tel: +9221 111 001 122
Fax: +9221 3241 0825, +9221 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

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