21 Jul 2017 08:45
No. CS04-08 (PSX/LSE)
July 21, 2017
1. | The General Manager, Pakistan Stock Exchange Limited,Stock Exchange Building, Stock Exchange Road,Karachi-74000, Pakistan.
Fax No. (92-21) 3241 0825, 3241 5136
| 2. | London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: MATURITY OF PAKISTAN INVESTMENT BONDS (PIBs)
Dear Sir,
This is to inform that Pakistan Investment Bonds (PIBs) were subscribed by the Company in order to settle its overdue receivables from oil refineries and gas companies as a result of GoP plan for settlement of circular debt issue. The face value of these PIBs was Rs 50,772,700,000/- carrying interest rate of 11.50% per annum. These PIBs were issued on 19 July 2012 for a period of five years maturing on 19 July 2017.
2. The above mentioned PIBs matured on July 19, 2017 and we have received an amount of Rs.53,400,187,109/- which includes face value of Rs.50,772,700,000/- and profit of Rs.2,627,487,109/-
3. The above information is submitted in compliance with Code of Corporate Governance for dissemination amongst your members please.
Yours Sincerely,
(Ahmed Hayat Lak)
Company Secretary
Oil&gas Regs (OGDC)