REG - United Bank Limited - WITHDRAWAL OF PUBLIC ANNOUNCEMENT

United BankAnnouncement

24/05/2022 12:00

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RNS Number : 6260M  United Bank Limited  24 May 2022

 

 

Secretary's Department

SD/PSX/Material/ /22

 

24 May 2022

 

 

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi

 

 

Subject:       MATERIAL INFORMATION - WITHDRAWAL OF PUBLIC ANNOUNCEMENT OF
INTENTION TO ACQUIRE MAJORITY SHARES IN SAMBA BANK LIMITED HELD BY SAUDI
NATIONAL BANK

 

Dear Sir,

 

In accordance with Section 96 and 131 of the Securities Act, 2015 and the
rules made thereunder, 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") granted in-principal approval to United
Bank Limited ("UBL") for the due diligence of Samba Bank Limited ("SBL") in
respect of acquisition of 84.51% shareholding of SBL, held by Saudi National
Bank ("SNB"). However, please note that after completion of the due diligence
process, SNB has decided not to proceed with the sale of its shareholding in
SBL. Therefore, the subject transaction has been terminated by SNB.

 

AKD Securities Limited, Manager to the Offer, submitted the public
announcement of intention to acquire 84.51% shares of SBL, held by SNB, on
behalf of UBL. In light of the SNB's decision of terminating the process of
sale of its shareholding in SBL, AKD Securities Limited has submitted the
withdrawal of UBL's public announcement of intention to acquire SNB's
shareholding in SBL. The aforesaid withdrawal of UBL's public announcement of
intention is published in Daily Nawa-i-waqt and Business Recorder on 24 May
2022.

 

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

 

Kind regards,

for and on behalf of United Bank Limited

 

Sd/-

_________________

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

Copy to:

 

1.         Executive Director

Public Offering and Regulated Persons Department

Securities Market Division

Securities and Exchange Commission of Pakistan

NIV Building, Jinnah Avenue, Blue Area

Islamabad, Pakistan

 

2.         The Director

Surveillance, Supervision & Enforcement Department

Securities and Exchange Commission of Pakistan

NIC Building, 63 - Jinnah Avenue, Blue Area, Islamabad

 

3.         London Stock Exchange

 

4.         The Registered Office, Samba Bank Limited

 

ANNEXURE - A

 

 

DISCLOSURE FORM

 

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

 

 Name of Company:                    United Bank Limited (UBL)
 Date of Report:                     24 May 2022
 Registered Address of the Company:  13(th) Floor, UBL Building, Jinnah Avenue, Blue Area, Islamabad.
 Contact information:                Shoukat Ali

                                     Head-Secretary's Department

                                     United Bank Limited

                                     Telephone Numbers: 021-990332103 & 021-990332576

 

  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:

 

In light of the Saudi National Bank's decision of terminating the process of
sale of its shareholding in Samba Bank Limited (SBL), UBL's public
announcement of intention to acquire Saudi National Bank's shareholding in SBL
is hereby withdrawn.

 

 Sd/-

 

________________

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

24 May 2022

 

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