Last checked at 24 May 2022 11:57
Secretary's Department
SD/PSX/Material/ /22
24 May 2022
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Subject: MATERIAL INFORMATION - WITHDRAWAL OF PUBLIC ANNOUNCEMENT OF INTENTION TO ACQUIRE MAJORITY SHARES IN SAMBA BANK LIMITED HELD BY SAUDI NATIONAL BANK
Dear Sir,
In accordance with Section 96 and 131 of the Securities Act, 2015 and the rules made thereunder, and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited, we hereby convey the following information:
The State Bank of Pakistan ("SBP") granted in-principal approval to United Bank Limited ("UBL") for the due diligence of Samba Bank Limited ("SBL") in respect of acquisition of 84.51% shareholding of SBL, held by Saudi National Bank ("SNB"). However, please note that after completion of the due diligence process, SNB has decided not to proceed with the sale of its shareholding in SBL. Therefore, the subject transaction has been terminated by SNB.
AKD Securities Limited, Manager to the Offer, submitted the public announcement of intention to acquire 84.51% shares of SBL, held by SNB, on behalf of UBL. In light of the SNB's decision of terminating the process of sale of its shareholding in SBL, AKD Securities Limited has submitted the withdrawal of UBL's public announcement of intention to acquire SNB's shareholding in SBL. The aforesaid withdrawal of UBL's public announcement of intention is published in Daily Nawa-i-waqt and Business Recorder on 24 May 2022.
A disclosure form as required under S.R.O. 143/(I)/2012 dated 05 December 2012 read with Section 96 and 131 of the Securities Act, 2015 is attached herewith as 'Annexure A'.
In light of the above, you may please inform the TRE Certificate Holders of the Exchange accordingly.
Kind regards,
for and on behalf of United Bank Limited
Sd/-
_________________
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
Copy to:
1. Executive Director
Public Offering and Regulated Persons Department
Securities Market Division
Securities and Exchange Commission of Pakistan
NIV Building, Jinnah Avenue, Blue Area
Islamabad, Pakistan
2. The Director
Surveillance, Supervision & Enforcement Department
Securities and Exchange Commission of Pakistan
NIC Building, 63 - Jinnah Avenue, Blue Area, Islamabad
3. London Stock Exchange
4. The Registered Office, Samba Bank Limited
ANNEXURE - A
DISCLOSURE FORM
IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015
Name of Company: | United Bank Limited (UBL) |
Date of Report: | 24 May 2022 |
Registered Address of the Company: | 13th Floor, UBL Building, Jinnah Avenue, Blue Area, Islamabad. |
Contact information: | Shoukat Ali Head-Secretary's Department United Bank Limited Telephone Numbers: 021-990332103 & 021-990332576 |
[ü] Disclosure of inside information by listed company in terms of section 15D.
Public disclosure of price sensitive / inside information, which directly concerns the listed securities:
In light of the Saudi National Bank's decision of terminating the process of sale of its shareholding in Samba Bank Limited (SBL), UBL's public announcement of intention to acquire Saudi National Bank's shareholding in SBL is hereby withdrawn.
Sd/-
________________
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
24 May 2022