Last checked at 29 Dec 2010 13:59
Secretary's Department
UBL/Sale of Shares/Sponsors/10
29 December 2010
F A X
1. The Managing Director Karachi Stock Exchange (Guarantee) Ltd. Karachi Stock Exchange Building Karachi Stock Exchange Road, Karachi. | 2. The General Manager Lahore Stock Exchange (Guarantee) Ltd. 19, Khayaban-e-Aiwan- e-Iqbal, Lahore | 3. The Secretary Islamabad Stock Exchange (Guarantee) Ltd. 55-B, Jinnah Avenue, Bule Area Islamabad |
Dear Sirs,
Material Information
Divestment of Shareholding - Abu Dhabi Group
The Abu Dhabi Group comprising of (i) H.H. Sheikh Suroor Bin Mohammad Al Nahayan; (ii) H.H. Sheikh Nahayan Mabarak Al Nahayan; (iii) Mr. Omar Ziad Jaffar Al Askari; (iv) H.E. Dr. Mana'a Saeed Al Otaiba; (v) Al Jaber Transport & General Contracting LLC.; (vi) H.E. Shaikh Mohammad Butti Al Hamid; (vii) Mr. Mohammad Abdul Aziz Al Rubayea; and (viii) H.E. Sheikh Hamdan Bin Mubarak Al Nahayan (hereinafter "ADG") is a shareholder of United Bank Limited ("Bank") holding approximately 25.5% of the issued and outstanding ordinary shares of the Bank and 4.8% of the Global Depository Receipts issued by the Bank.
ADG is desirous of selling 20% of the issued and outstanding ordinary shares of the Bank held by ADG ("ADG Shareholding") and has, subject to all regulatory approvals, entered into a Share Purchase Agreement dated December 28, 2010 with Bestway (Holding) Limited ("Bestway") being an existing shareholder of the Bank.
The Bank hereby notifies the Karachi Stock Exchange that subject to all regulatory approvals, the Share Purchase Agreement has been signed for the sale of the ADG Shareholding to Bestway and both Bestway and ADG shall apply to the State Bank of Pakistan in order to obtain its approval to proceed with the sale and purchase of the ADG Shareholding.
Yours faithfully,
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
CC: to London Stock Exchange