United Bank Limited
27 January 2011
Secretary's Department
SD/Shareholding/ADG-BG/SEs/11
27 January 2011
1. The Managing 2. The General 3. The Company
Director Karachi Manager Lahore Secretary
Stock Exchange Stock Exchange Islamabad Stock
(Guarantee) Ltd. (Guarantee) Ltd. Exchange
Karachi Stock 19, (Guarantee) Ltd.
Exchange Building Khayaban-e-Aiwan- ISE Towers, 55-B
Stock Exchange e-Iqbal, Lahore. Jinnah Avenue
Road, Karachi. Islamabad.
Dear Sirs, Acquisition of Abu Dhabi Group Shareholding in United Bank Limited
The Abu Dhabi Group ("ADG") and the Bestway (Holdings) Limited ("Bestway"), being existing shareholders of the United Bank Limited ("Bank"), had entered into a Share Purchase Agreement dated 28 December 2010 ("Agreement") for the sale of 20% of the issued and outstanding ordinary shares of the Bank held by ADG ("ADG Shareholding") to Bestway.
ADG and Bestway have notified that all relevant regulatory consents for sale of ADG Shareholding have been obtained and ADG Shareholding has been transferred on 26 January 2011 to Bestway in terms of the Agreement. Details of the exact number of shares sold, the purchase price per share, form of share certificates and nature of transaction is attached hereto as Annexure 'A'.
You may please inform the Members of the Exchange accordingly.
Yours faithfully,
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
Copy to:
1. London Stock Exchange, London, UK
2. Citibank, NA, Karachi Branch, Custodian of UBL GDRs.
Annexure A
Name of Number of Price Form of Share Nature of Shareholders of Shares to per Share certificates transaction Abu Dhabi Group be transferred ----------------- --------------- ---------- ---------------- ------------ H.H. Sheikh 11,612,235 Rs. 80 Electronic Off-market Nahayan Mabarak Al Nahayan (Director on the board of UBL) ----------------- --------------- ---------- ---------------- ------------ H.E. Sheikh 20,997,631 Rs. 80 Electronic Off-market Hamdan Bin Mubarak Al Nahayan ----------------- --------------- ---------- ---------------- ------------ H.E. Sheikh 44,994,928 Rs. 80 Electronic Off-market Mohammed Bin Butti Al Hamid ----------------- --------------- ---------- ---------------- ------------ H.E.Dr.Mana 67,492,392 Rs. 80 Electronic Off-market Saeed Al Otaiba ----------------- --------------- ---------- ---------------- ------------ H.E. Sheikh 2,249,746 Rs. 80 Electronic Off-market Suroor Bin Mohammad Al Nahyan ----------------- --------------- ---------- ---------------- ------------ Al Jaber 59,993,236 Rs. 80 Electronic Off-market Transport & General Contracting ----------------- --------------- ---------- ---------------- ------------ Mohammad Abdul 22,497,462 Rs. 80 Electronic Off-market Aziz Al Rubayea ----------------- --------------- ---------- ---------------- ------------ Mr.Omar Ziad 14,998,307 Rs. 80 Electronic Off-market Jaafar Al Askari (Director on the board of UBL) ----------------- --------------- ---------- ---------------- ------------This information is provided by RNS
The company news service from the London Stock Exchange
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This news article was published by Wall Street Journal on January 27, 2011
