REG - United Bank Limited - Approval for due diligence of Samba Bank Limited

United BankAnnouncement

26/01/2022 13:40

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RNS Number : 7394Z  United Bank Limited  26 January 2022

Secretary's Department

SD/PSX/Material/ /21

26 January 2022

 

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi

 

Subject:          MATERIAL INFORMATION - SBP'S IN-PRINCIPLE APPROVAL
TO COMMENCE DUE DILIGENCE OF SAMBA BANK LIMITED

Dear Sir,

 

ln accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause
5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited, we
hereby convey the following information:

 

The State Bank of Pakistan ("SBP") has granted in-principle approval to United
Bank Limited to commence the due diligence of Samba Bank Limited ("SBL") in
respect of acquisition of 84.51% shareholding of SBL, currently held by Saudi
National Bank.

 

A disclosure form as required under S.R.O. 143/(I)/2012 dated 05 December 2012
read with Section 96 and 131 of the Securities Act, 2015 is attached herewith
as 'Annexure A'.

 

In the light of above, you may please inform the TRE Certificate Holders of
the Exchange accordingly.

 

 

Yours faithfully,

 

 

Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

 

Copy to:

 

1.   The Director,

Surveillance, Supervision & Enforcement Department

Securities and Exchange Commission of Pakistan

NIC Building, 63 - Jinnah Avenue, Blue Area Islamabad

 

2.   London Stock Exchange

 

 

 

ANNEXURE - A

 

 

DISCLOSURE FORM

 

IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015

 

 Name of Company:                    United Bank Limited
 Date of Report:                     26 January 2022
 Registered Address of the Company:  13(th) Floor, UBL Building, Blue Area, Islamabad.
 Contact information:                Aqeel Ahmed Nasir,

                                     Company Secretary & Chief Legal Counsel

                                     United Bank Limited.

                                     Telephone Numbers: 021-990332960 & 021-32400419

 

  ü  Disclosure of inside information by listed company in terms of section
15D.

 

Public disclosure of price sensitive / inside information, which directly
concerns the listed securities:

 

The State Bank of Pakistan ("SBP") has granted in-principle approval to United
Bank Limited to commence the due diligence of Samba Bank Limited ("SBL") in
respect of acquisition of 84.51% shareholding of SBL, currently held by Saudi
National Bank.

 

 

 

            Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

26 January 2022

 

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