Utd.bk (regs) Regulatory News (UBLS)

14 Feb 2008 09:46

United Bank Limited14 February 2008 SECRETARY'S DEPTT. FORM-3SD/BOD/KSE14 February 2008 Fax No. 111-573-329 The General ManagerThe Karachi Stock Exchange (Guarantee) LimitedStock Exchange BuildingStock Exchange RoadKarachi Dear Sir, FINANCIAL RESULTS FOR THE YEAR ENDED 31-12-2007 We have to inform you that the Board of Directors of United Bank Limited ("UBL")in their 153rd meeting held on 14-02-2008 in Islamabad at 11.00 a.m. recommendedthe following: (i) CASH DIVIDEND Cash dividend for the year ended 31-12-2007 at Rs. 3.00 per share i.e. 30 %. AND (ii) BONUS SHARES It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of one share for every four shares held i.e. 25 % (iii)RIGHT SHARES ------NIL--------- (iv) ANY OTHER ENTITLEMENT ------NIL------- The financial results approved by the Board of Directors of UBL are appended at Annexure "A". The 49th Annual General Meeting of the Company will be held on 28 March 2008 at 4.00 p.m. at Pearl Continental Hotel, Karachi. 1/2 The above entitlement will be paid to the shareholders whose name will appear inthe Registrar of Members on 13 March 2008. The Share Transfer Books of the Company will be closed from 14-03-2008 to28-03-2008 (both days inclusive). Transfers received at the office of theCompany's Share Registrar, THK Associates (Pvt.) Ltd. Ground Floor, State LifeBuilding No.3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on13-03-2008 will be treated in time for the purpose of above entitlement to thetransferees. We will provide you Free Reserves Certificate from our External Auditors in duecourse. We will be sending you 300 copies of printed accounts for distribution amongstthe members of the Exchange 21 days before the date of AGM Yours faithfully, Abdul Sattar Vaid Muhammad Faraz Khan Aqeel A. Nasir Vice President & Financial Controller Company Secretary &Unit Head Chief Legal Counsel C.C. to: 1. London Stock Exchange, London, UK 2. Citibank, N.A. Karachi Branch, Custodian of UBL, GDRs 2/2 (Annexure "A")FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2007 2007 2006 (Rupees in '000) Mark-up / return / interest earned 41,045,543 32,991,603Non mark-up / return / interest income 8,992,351 6,948,388 50,037,894 39,939,991 Mark-up / return / interest expensed 16,936,187 12,126,809Provisions and write offs 6,422,046 2,316,858perating expenditure 13,674,688 11,204,568 37,032,921 25,648,235Profit before taxation 13,004,973 14,291,756 Taxation - Current 5,075,600 3,412,791Taxation - Prior year 442,667 45,225Taxation - Deferred (915,884) 1,365,508 4,602,383 4,823,524Profit after taxation 8,402,590 9,468,232 Unappropriated profit brought forward 12,429,853 7,350,813 Transfer from surplus on revaluation of fixed assets - netof tax 63,028 94,454Profit before appropriations 20,895,471 16,913,499 Appropriations Transfer to: - Statutory reserve (1,680,518) (1,893,646) - Final cash dividend for the year ended December 31, 2005 & 2006 declared (1,942,500) (1,295,000) subsequent to year end - Transfer to reserve for issuance of bonus shares for the year ended (1,618,750) (1,295,000) December 31, 2006 & 2005 subsequent to year end (5,241,768) (4,483,646)Unappropriated profit carried forward 15,653,703 12,429,853 (Rupees) Basic and diluted earnings per share 10.38 11.70 This information is provided by RNS The company news service from the London Stock Exchange