The Karachi Stock Exchange (Guarantee) Limited’s issuance of right shares

Karachi: We are pleased to inform you that board of Directors of First National Equities Limited (The Company) has approved to issue and allot the Unsubscribed portion of right shares which has been subscribed and fully paid on October 04, 2011.

Hence the Company has received the full amount of subscription i.e. Rs. 201,250,000/- (Rupees Two Hundred one million two hundred fifty thousand only) against total right issue of 80,500,000 ordinary shares. The auditors certificate in the regard is being submitted as required by and you are requested to issue the NOC in the name of Summit Bank Limited for release subscription amount.

We the statutory auditors of First National Equities (“the Company”) have examined the books of document and relevant records maintained by the Company regarding the right shares subscription. We report that:

1. The Company has received Rs. 41,567,50 from the shareholders towards subscription of 16,627 ordinary shares against the total office of 80,500,000 ordinary shares of Rs. 10 each at Rs. 5.50 each to shareholders. The balance 80,483,373 ordinary shares amounting to Rs. 201,208,432.50 have been taken up by the Director/ Associated Company’s and

2. The Revised paid up share Capital of the Company after aforementioned issue of 80,500,000 ordinary shares would be Rs. 1,380,000,000 dividend into 139,000,000 ordinary shares of Rs. 10 each.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136

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