18th Oct 2007 07:18
United Bank Limited18 October 2007 SECRETARY'S DEPTT. F A X SD/Discloure/BOD:07 17 October 2007 1. Mr. Muhammad Ghufran 2. Mr. Rana Naveed Ahmed 3. Mr. Ahmad Noman Manager Joint Secretary General Manger Karachi Stock Exchange Lahore Stock Exchange (Operation) (Guarantee) Ltd. (Guarantee) Ltd. Islamabad Stock Karachi Stock Exchange 19, Khayaban-e-Aiwan- Exchange (Guarantee) Ltd. Building e-Iqbal, Room No.308m Karachi Stock Exchange Lahore Anees Plaza Road, 101-E, Fazal-ul-Haq Karachi. Road, Blue Area Islamabad Dear Sirs, Re: DISCLOSURE - MATERIAL INFORMATION We have been informed by the Abu Dhabi Group and Bestway Group that they areconsidering jointly acquiring an aggregate of 5% (in equal proportion) of thecapital of United Bank Limited through open market purchases and / or conversionof GDRs held by them. The two aforesaid Groups jointly have a controllinginterest in relation to the affairs of UBL as they, according to our records,each own 25.5% of the share capital of UBL. The two Groups, according to ourrecords, each also own GDRs that would entitle each of them to convert theirGDRs into ordinary shares representing approximately 4.8% of the share capitalof UBL. The two Groups have also informed us that above purchases are subject toapproval of the State Bank of Pakistan (which has already been applied for) andconditional upon the terms of the purchase being acceptable. They have alsoinformed us that they have not entered into any negotiations / agreement withany purchaser with respect to the foregoing. You may please inform the members of the Exchange accordingly. Yours faithfully Aqeel Ahmed Nasir Company Secretary & Chief Legal Counsel CC to 1. Citibank, N.A. Karachi Branch, Custodian of UBL, GDRs. 2. London Stock Exchange. 3. Syed Irfan Ali, Director, Banking Policy and Regulation Department, State Bank of Pakistan, Karachi. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Utd.bk (regs)