Karachi: Further to our letter dated August 26, 2011 regarding announcement of result for the year ending December 31, 2011, kindly find enclosed herewith auditor’s certificate for free reserves.
Free Reserves as at 30 June 2011
As per your request, we confirm that the free reserves of IGI Insurance Limited (“the Company”) according to the condensed interim financial statements for the six months period ended 30 June 2011 on which we have issued review report will be more than 25 percent of the increased issued, subscribe and paid-up capital of the Company after the proposed issue of 14, 548,155 bonus shares of Rs. 10 each. The term “free reserves” has been deemed to have the meaning given to it in Rule 5 and 6 of the Companies (Issue of Capital) Rules, 1996.
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136