Home / Miscellaneous / PICIC Asset Management Company Limited’s acquisition of More Than 10% Voting Shares of Hum Network Limited by Funds under the Management of PICIC Asset Management Company Ltd

PICIC Asset Management Company Limited’s acquisition of More Than 10% Voting Shares of Hum Network Limited by Funds under the Management of PICIC Asset Management Company Ltd

Karachi: The Management Company of PICIC Growth Fund and PICIC Investment Fund (hereinafter collectively referred as “Funds”) through this letter would like to disclose that on 12th October 2011, the Funds acquired 580,000 ordinary shares (voting shares) of Hum Network Limited (“HUMNL”), which together with 4,792,000 shares already held by the Funds entitle the Funds to more than 10% of the total paid up capital of HUMNL. The Funds further acquired 75,000 ordinary shares (voting shares) yesterday on 13th October 2011. The aggregate shareholding of PICIC Growth Fund and PICIC Investment Fund in paid up capital of HUMNL is now as under:

Fund Name Number of shares held % of share holding in HUMNL
PICIC Growth Fund 3,483,500 6.967%
PICIC Investment Fund 1,963,500 3.927%
Total 5,447,000 10.894%

This disclosure is in accordance with all the applicable laws and regulations and in view of good Corporate governance practices.

For more information, contact:
Ahmed Raza
CFO and Company Secretary
PICIC Asset Management Company Limited
9th Floor Muhammadi House,
I. I. Chundrigar Road,
Karachi- 7400, Pakistan.
UAN: 1111 PICIC (74242)
Fax: 021-32418055-56
E-mail: customservice@picicamc.com
Web: www.picicamc.com

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