JDW Sugar Mills Limited’s issuance of no objection certificate upon receipt of subscription money of right shares

Karachi: We are pleased to inform you that JDW Sugar Mills Limited (JDWS) (“the Company”) has received full subscription money amounting to Rs. 377,215,090 for 5,388,787 (i.e.10%) right shares offered to shareholders at per share price of Rs. 70. Auditors’ Certificate confirming the receipt of full subscription money, as required under the provisions of Right Shares Procedure of Karachi Stock Exchange (G) Limited is attached for your perusal and record.

As the company has complied with all the requirements of KSE Right Shares Procedure, you are therefore, requested to kindly issue No Objection Certificate to Habib Bank Limited (banker to the issue) for release of subscription money to the Company.

JDW Sugar Mills Limited (“the Company”) Auditors’ certificate on subscription of right Issue

At the request of the company, we have examined the books of account and relevant records maintained by the Company regarding issue of right shares, We report that the company has received full subscription money in cash amounting to Rs. 377,215,090 against issue of 5,388,787 ordinary shares of Rs. 10 each issued at Rs. 70 per share (inclusive of premium of Rs. 60 per share). After the said right issue, the paid up share capital of the company will be Rs. 592,766,610 divided into 59,276,661 number of shares of Rs. 10 each.

For more information contact:
JDW Sugar Mills Limited
17-Abid Majeed Road, Lahore Cantt, Lahore
PABX# +9242-36664891
Fax: +9242-36854490
Email: jdwho@jdw-group.com

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