American Life Insurance Company (Pakistan) Limited’s substantial acquisition of voting shares and takeovers

Karachi, November 05, 2012 (PPI-OT): We are enclosing herewith the Notice received from EFU Life Assurance Limited, Al-Malik Centre, 70 W, F-7/G-7, Jinnah Avenue (Blue Area), Islamabad of their intention to acquire control voting shares of our Company.

The notice is being given to you in compliance of Reg. 5 (1) (a) of the listed Company (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2008 and Reg. 35 of the KSE Listing Regulations read with Clause (xx) of the Code of Corporate Governance.

Public Announcement of Intention to acquire 91.00% shares of American Life Insurance Company (Pakistan) Limited under Regulation 6 of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008.

On behalf of EFU Life Assurance Limited, Islamabad, we are submitting herewith a copy of Public Announcement of Intention to Acquire 45,500,000 ordinary shares of American Life Insurance Company (Pakistan) Limited (“the Target Company”) constituting approximately 91.00% of the issued shares of the Target Company. We have been appointed as Manager to the Offer.

The Public Announcement of Intention to Acquire will be published in accordance with Section 9 (1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance, 2002 and the Regulations thereof.

Schedule-III

Regulation 6 (4)

Public Announcement of Intention to Acquire 91.00% Shares and Control of American Life Insurance Company (Pakistan) Limited by EFU Life Assurance Limited under Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance, 2002 and Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008.

1) Information about the acquirer:

a) Name (s) and Address (es) of the acquirer along with persons acting in concert, if any.

Name: EFU Life Assurance Limited

Address: Having its Registered Office at Al-Malik Centre 70 W, F-7/G-7 Jinnah Avenue (Blue Area), Islamabad.

b) Name (s) and Address (es) of the financial advisors of the acquirer, if any:

None

c) Names of the Chief Executive Officer and Directors of the acquirer company:

i. The Chief Executive of the acquirer company is Mr. Taher G. Sachak.

The Directors of the acquirer company are the following:

Mr. Rafique R. Bhimjee (Chairman)
Mr. Taher G. Sachak (Managing Director and Chief Executive)
Mr. Saifuddin N. Zoomkawala
Mr. Jahangir Siddiqui
Mr. Muneer R, Bhimjee
Mr. Hasanali Abdullah
Mr. Heinz Walter Dollberg

ii. The major shareholders of the acquirer company are the following:-

EFU General Insurance Limited

Jahangir Siddiqui and Co. Limited

2) Information about the Target Company:

a) Name of the target company, its directors and major shareholders.

i. Name: American Life Insurance Company (Pakistan) Limited.

ii. Names of Directors of the target company:

Mr. Arif Sultan Mufti (CEO and Chairman)
Mr. Michel Khalaf
Mr. Nurul Islam
Mr. Arif Abdul Aziz
Mr. Shahid Siddiqui
Mr. Khalid Anis-ur-Rehman
Mr. Qasim Rabbani

iii. Major Shareholders of the target company:

American Life Insurance Company, Inc. USA

b) Total number of issued shares of the target company:

50,000,000 Ordinary Shares of Rs.10/- each fully paid in cash.

3) Number of shares already held by the acquirer, if any:

Nil

4) Number of shares alongwith the percentage intended to be acquired by the acquirer through public offer or agreement:

Upto 45,500,000 ordinary shares of the target company constituting approximately 91.00% of the issued shares of the target company by public announcement of offer.

For more information, contact:
American Life Insurance Company (Pakistan) Limited
Floor 13, Dolmen Executive Tower
Marine Drive Block 4, Clifton
Karachi 75600
Tel: (9221) 3536-0040
UAN: (9221) 111-111-711
Fax: (9221) 3579-0042

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