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Summit Bank Limited’a scheme of amalgamation and swap ratio

Karachi: Further to our letter no. SMBL/FIN/842/2011 dated July 19, 2011 on the subject stated above, please find enclosed following documents for your information and record:

– Auditors’ Certificate confirming increase in the paid up capital of the Bank;

– Form-3 i.e. Return of Allotment;

AC2/139/11

16 July 2011

The Chief Executive Officer

Summit Bank Limited (the Bank)

Karachi

Dear Sir,

Revised Paid Capital of the Bank as of 30 June 2011

This has reference to your email dated 07 July 2011. As desired by you we are pleased to state that the Paid up Capital of Bank as of 30 June 2011 after taken into account 207,900,397 ordinary shares of face value of Rs.10/- each, pursuant to the Scheme of Amalgamation (as sanction by state Bank of Pakistan (SBP) vide its order dated 20 June 2011 read with SBP’s letter No. BPRD (R&P-02)/625-102/2010/7954 dated 20 June 2011) of My Bank Limited with and into the Bank works out to be as under:

 

Number of Ordinary Shares Face Value Paid up Capital
Rupees Rupees
1,077,979,575 10/- 10,779,795,750

 

The shares issued upon amalgamation as referred above include 206,155,485 shares which have been recorded in the members’ register in the name of Central Depository Company of Pakistan Limited (CDC). Further, we are not aware of any condition imposed, by the State Bank of Pakistan or any other competent authority / court which is required to be satisfied by the Bank with regard to allotment of these shares.

This letter is being issued in the capacity of statutory auditor of the Bank and on the specific request of the management of the Bank for onward submission to the CDC in terms of procedures prescribed by CDC for shares upload.

For more information, contact:
Summit Bank Limited
Summit Bank Plaza: Plot # 8/C-I, Mumtaz Hasan Road, Off I. I. Chundrigar Road, Karachi-Pakistan
PABX (021) 32468400-10
Fax: (021) 32468494

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