REG - United Bank Limited - Approval for Due Diligence to acquire TMBL by UBL

United BankAnnouncement

08/02/2022 07:00

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RNS Number : 0016B  United Bank Limited  08 February 2022

Secretary's Department

SD/PSX/Material-TMB/22

8 February 2022

 

 

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi

 

Dear Sir,

 

MATERIAL INFORMATION - STATE BANK OF PAKISTAN'S IN-PRINCIPLE APPROVAL TO
COMMENCE DUE DILIGENCE OF TELENOR MICROFINANCE BANK LIMITED

 

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 has granted in-principle approval to United Bank
Limited to commence the Due Diligence of Telenor Microfinance Bank Limited
("TMB") for proposed acquisition of 55% sponsor shares in TMB, currently held
by Telenor Pakistan BV (operating under the Easypaisa brand name), subject to
the compliance with the applicable laws, rules, regulations.

 

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:                     8 February 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 has granted in-principle approval to United Bank
Limited to commence the Due Diligence of Telenor Microfinance Bank Limited
("TMB") for proposed acquisition of 55% sponsor shares in TMB, currently held
by Telenor Pakistan BV (operating under the Easypaisa brand name), subject to
the compliance with the applicable laws, rules, regulations.

 

 

 

 

 

 
 
 
Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

8 February 2022

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