All shareholders of Regent Textile Industries Ltd. are informed that Mr. Nizam Hashwani (24,251 shares in CDC) and Mr. Abdullah Hashwani, (83,965 Physical shares) Majority shareholders Of Regent Textile Industries Ltd. (the Company) have decided to purchase all 108,216 shares of the Company held by others. The shareholders of the Company have passed a special resolution for voluntary de-listing of the Company from Karachi Stock Exchange at the extra Ordinary general meeting held on Wednesday the 25th January, 2012 at 4.00 PM. A copy of Special Resolution is being sent to the members Separately.
The terms, conditions and procedures for purchase of shares of the company by Mr. Nizam Hashwani and Mr. Abdullah Hashwani are set-out herein below:-
1. Mr. Nizam A. Hashwani and Mr. Abdullah Hashwani are offering to buyback the shares of the Company at a price of Rs. 92.71 per share. This purchase price has been approved by Karachi Stock Exchange also in accordance with Listing Regulations.
2. The share purchase offer will be valid from February 16, 2012 to
April 16, 2012 (Both days inclusive).After this period, it is intended that the Company will be de-listed from The Karachi Stock Exchange (Guarantee) Limited.
3. The offer is valid for all shareholders of the Company i.e.: those shareholders holding physical shares certificates and those shareholders whose shares are held as book entry security in the Central Depository Company of Pakistan Ltd. (CDC).
4. In order to avail offer, shareholders need to either send by Registered post or courier service or personally take the documents to our authorized Purchase Agent:
T S Securities (Pvt) Ltd.
Room No. 146, 3rd, Floor, Karachi Stock Exchange Building,
Karachi Stock Exchange Road, Karachi.
Telephone #: 32429124.
Fax #: (021) 32412337,
A) Physical Shares:
i) For Registered shareholders:
Shares Certificates with verified Transfer deeds;
ii) For shareholders with open Transfer deeds:
Share certificates with verified transfer deeds.
Copy of CNIC of the person who owns the shares;
Copy of purchase Bill of the member of the Karachi Stock Exchange duly attested by the official of the Karachi Stock Exchange.
iii) M/S T S Securities (Pvt) Ltd. will issue a receipt in exchange for the above documents. Once the share certificates, transfer deed and other documents have been verified by the Company's shares department/ Registrar Your Secretary (Pvt) Ltd. 1020, 10th Floor, Uniplaza, I.I. Chundrigar Road, Karachi. Phone #: (021) 32416957 (0333-2163287) Fax # :32428842. Shareholders will be requested to collect payment for their shares @ Rs. 92.71 per share less the Member's commission from M/S T S Securities (Pvt) Ltd.
D) Shares through Central Depository
Company of Pakistan Ltd. (CDC)
The Purchase agent T S Securities (Pvt) Ltd. would purchase the shares either through Karachi Automated Trading system (KATS) or as per following procedures:
Shareholders should arrange to credit T S Securities (Pvt) Limited, Member, Id. #: 07328. Narration should mention owner's name.
Copy of request letter to Participant / broker for share transfer to M/S T S Securities (Private) Ltd. account.
Payment to Sellers through KATS will be made as per clearing house schedule of the Karachi Stock Exchange and to other shareholders within three weeks of the date of issuance of receipt.
Regent Textile Industries Ltd.
Syed Muhammad Yousuf
Company Secretary
Source: Company Notice
