Network Microfinance Bank Limited’s material information under clause (xxiii) of the code of corporate governance

Karachi: In accordance with clause (xxiii) of the Listing Regulation No.35 under Code of Corporate Governance, we are pleased to convey the following further information:

Further to our letter no. NMBL/KSE/CS/168-11dated June 6, 2011 (copy attached), we have been informed by Jahangir Siddiqui and Co. Ltd. (“JSCL”) that JSCL has now signed a Share Purchase Agreement dated September 12, 2011, with the Group of Investors, addressing themselves as (“Auriga Group”) (“the Acquirers”) for sale of 21,245,184 Ordinary Shares of the face value PKR 10/- of Network Microfinance Bank Limited (NMBL).

JSCL has further informed us that an Escrow Agreement dated September 12, 2011, has also been signed by JSCL and the Acquirers with a local bank pursuant to which the Acquirers have deposited total sale consideration to be released to the Company upon transfer of the Shares.

For more information, contact:
Rafat Abbas
Company Secretary
Network Microfinance Bank Limited
202, Azayam Plaza,
Opp.FTC Building S.M.C.H.S
Shahrah-e-Faisal,
Karachi, Pakistan
PABX: 34311723-25
Fax: 34311722
E-mail: info@networkmicrobank.com
Website: www.networkmicrobank.com

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