Karachi: As required by rule 6 of the Companies (Issue of Capital) Rules, 1996, we are please to inform you that the Board of Directors of Ferozsons Laboratories Limited (FEROZ) in their Meeting held on August 27, 2011 have recommended the issuance of 15% bonus shares i.e. 3 shares for every 20 shares held.
Please also find enclosed the Auditors’ Certificate as required under rule 6 clause iii of the Companies (Issue of Capital) Rules, 1996.
Ferozsons Laboratories Limited (“the Company”) Issuance of Bonus Shares
Please refer to your request; informing us of Company’s decision to issue bonus shares in the proportion of is ordinary shares for every hundred shares held i.e. 15%.
In response to foregoing, we confirm that the free reserves and surpluses retained after the issue of the bonus shares are not less than 25% of the increased capital of the Company as required by the Companies (Issue of Capital) Rules, 1996, rule 6 (iii), circulated vide SRO 110(I)/96 dated 08 February 1996. The free reserves have been determined on the basis of the audited financial statements for the year ended 30 June 2011.
For more information, contact:
Ferozsons Laboratories Limited
5-K.M. Sunder Raiwind Road,
Raiwind Lahore, Pakistan.