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Last checked at 
10 Nov 2008 08:39
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SECRETARY'S DEPTT.
F A XΒ
SD/Discloure/BOD:08
10Β November 2008
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1. Mr. Muhammad Ghufran Manager KarachiΒ Stock ExchangeΒ (Guarantee) Ltd. KarachiΒ Stock ExchangeΒ Building KarachiΒ Stock Exchange Road, Karachi. |
2. Mr. Rana Naveed AhmedΒ Joint Secretary LahoreΒ Stock Exchange (Guarantee) Ltd. 19, Khayaban-e-Aiwan- e-Iqbal, Lahore |
3. Mr. Ahmad Noman GeneralΒ Manger (Operation) IslamabadΒ StockΒ Exchange (Guarantee) Ltd. Room No.308mΒ AneesΒ Plaza 101-E, Fazal-ul-Haq Road, Blue Area Islamabad |
Dear Sirs,
Re: DISCLOSURE - MATERIAL INFORMATION
We have been informed byΒ Bestway (Holdings) Limited of theΒ Bestway GroupΒ (BG) that they are converting their UBL GDRs aggregating 14.08 million in to ordinary shares (one GDR is equal to four ordinary shares)Β subject to theΒ approval from State Bank of Pakistan (SBP)Β andΒ afterΒ compliance with all legal and regulatory requirements. BG hasΒ also given their consent that such ordinary shares may be treated as sponsor shares along with their existing portfolioΒ ofΒ 257,988,278Β ordinary sharesΒ by depositing these shares in their blocked accounts maintained at Central Depository Company in terms of SBP, BPRD Circular No.4 dated 22 May 2008.Β Β After the conversion of GDRs, BG'sΒ aggregate shareholdingΒ in UBL will beΒ 314,343,246Β ordinary shares.
You may please inform the members of the Exchange accordingly.
Yours faithfully
Aqeel Ahmed Nasir
Company Secretary &Β
Chief LegalΒ Counsel
CC to 1. Citibank, N.A. Karachi Branch, Custodian of UBL, GDRs.
2. LondonΒ Stock Exchange.
3.Syed Irfan Ali, Director, Banking Policy and Regulation Department, StateΒ Bank ofΒ Pakistan.
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