1. APPROVAL AND LISTING ON THE STOCK EXCHANGE
1.1
APPROVAL OF THE CORPORATE LAW AUTHORITYApproval of the Corporate Law Authority as required under Section 57(1) of the Companies Ordinance, 1984 has been obtained for the issuance, circulation and publication of this prospectus. It must be clearly understood that in giving this approval, the Corporate Law Authority does not take any responsibility for the financial soundness of any scheme or for the correctness of any of the statements made or opinions expressed with regard to them. 1.2 CLEARANCE OF THE PROSPECTUS BY THE STOCK EXCHANGES
The Prospectus of the Company has been approved by the Karachi Stock Exchange (Guarantee) Limited in accordance with the requirements under their Listing Regulations. While clearing the Prospectus, the stock exchange neither guarantees the correctness of the contents of the Prospectus nor the viability of the Company.1.3 FILING OF THE PROSPECTUS AND OTHER DOCUMENTS WITH THE REGISTRAR OF COMPANIES
As required by Section 57 (3) and 57 (4) of the Companies Ordinance, 1984, the Company has filed a copy of this Prospectus signed by all the directors along with the following documents with the Deputy Registrar of Companies, Islamabad.(a) Letter No.1-207-96 dated April 3, 1996 from Messrs. Taseer Hadi Khalid & Co., Chartered Accountants, consenting to the issue of the Prospectus
which contains in Part V certain statements and reports issued by them
as experts (which consent has not been withdrawn);(b) Copies of Material Contracts mentioned in Part VII of this Prospectus; (c) Written confirmation of the Auditors, Legal Advisors, Consultants and Bankers to the Issue mentioned in this "PROSPECTUS" consenting to
act in their respective capacities as required by Section 57 (5) of the
Companies Ordinance, 1984.(d) The Directors and Chief Executive of the Company have consented to their respective appointments and to their having being named and
described as such Directors and Chief Executive in this Prospectus.
The Company has filed written confirmation of such consents with the
Company's Registered Office, Islamabad as required by Section 184
of the Companies Ordinance, 1984.1.4 LISTING ON THE STOCK EXCHANGES Application has been made to the Karachi Stock Exchange
(Guarantee) Limited for permission to deal in and for quotation
of the shares of the Company.
In accordance with the "Regulations for trading in provisionally
listed companies of the Karachi Stock Exchange (Guarantee)
Limited, the Company shall stand listed provisionally for trading
and for quotation of its shares on that Exchange from the day of
publication of Prospectus.
The Company undertakes that if for any reason, the application for
official listing is not accepted by the stock exchange, notice to that
effect will immediately be published in the press and the Company
will refund the subscription money to the applicants without any
surcharge in accordance with the provisions of Section 72 of the
Companies Ordinance, 1984.