Not rup in'000 d c mb r 31 2006 d c mb r 31.2 i u d

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Unformatted text preview: Not------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 43 19.2 I u d, ub crib d and paid up 19. SHARE CAPITAL 19.1 Authori d capital------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 Ordinary shares o Rs.1 /- 600,000,000 25 , , each 6,000,000 2,5 , Numb r of har D c mb r 31, 2006 D c mb r 31, 2005------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 Numb r of har D c mb r 31, 2006 D c mb r 31, 2005 Ordinary har Fuly paid in cash 59,502,500 2,- Opening balance 595,025 2- Subscription paid- 1,5 during the year- 15 140,497,500 59,499,- Isued during the year 1,404,975 594,99 200,000,000 59,5 2,5 2,000,000 595, 25 19.2.1The Board o Directors o the Ban in their meting held on October 31, 2 6 aproved isue o 6 percent (3:5 ratio) right shares in order to met the minimum capital requirement o Rs. 3 bilion (net o loses) prescribed or al comercial ban s by the State Ban o Pa istan to be achieved by December 31, 2 6. Subsequent to year-end on January 4, 2 7 the Ban has dispatched leters o right to their shareholders speci ying the payment o their portion o subscription by February 22, 2 7. The entire proces is expected to be completed by April 7, 2 7 acording to the time rame agred with Karachi Stoc Exchange. Acordingly, the Ban has obtained extension in the deadline or increase in share capital rom State Ban o Pa istan upto March 31, 2 7 vide SBP's leter re erence BSD/Su-1/6 8/222/2 7 dated January 26, 2 7. 19.2.2Subsequent to year end, a stay order has ben granted by the Honourable High Court o Sindh in avour o Al Bara a Investment Company Limited, Dalah Albara a (Ireland) Limited abd Dalah Albara a Investment Company Limited against the Ban and Jahangir Sidiqui & Company Limited (JSCL - one o main sponsors o the Ban ). JSCL has, however, subscribed against the right shares subsequent to the year-end. The stay order restricts the Ban and JSCL rom creating third party interest in the shareholding o JSCL in the Ban . The mater is curently pending adjudication, and acordingly, the Ban does not intend to isue shares to JSCL unles the mater has ben decided by the Court. 44 20. ADVANCE AGAINST FUTURE ISUE OF SHARE CAPITAL Opening balance 876,465 Received during the year- 876,465 Shares isued during the year (876,465) Closing balance- 876,465 21. SURPLUS ON REVALUATION OF ASETS 21.1 Surplu on r valuation of availabl - for- al curiti WAPDA Su u s 11,663 - Pa istan International Element Islamic Fund (422)- 11,241 22. CONTINGENCIES AND COMMITMENTS 22.1 Trad -r lat d conting nt liabiliti Import leters o credit 207,002 - Aceptances 113,018 - 22.2 Tran action-r lat d conting nt liabiliti Guarantes avouring- Others 42,910 Advance payments avouring- Others 67,901 22.3 Comitm nt for th ac ui ition of op rating fix d a t 22,560 31,143 22.4 Comitm nt for ac ui ition of inv tm nt 14,400 - 22.5 Comitm nt in r p ct of financing 172,310 - 22.6 Oth r comitm nt Bils or colection 4,159 -------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 45 23.23....
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Not Rup in'000 D c mb r 31 2006 D c mb r 31.2 I u d ub crib...

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