Allotment of shares approved

In order to complete the subscription of unsubscribed Right Shares, the Board of Directors of Silkbank has approved the allotment of 1,028,710,173 shares to Shaukat Tarin. Earlier, these unsubscribed shares were allotted to Azmat Tarin. Silkbank board of directors has also authorised Shaukat Tarin to further allot/transfer all or part of the right shares to such new investors on or before June 30, 2012, subject to compliance of regulatory requirements.
According to information sent by this bank to stock market, the allotment to Shaukat Tarin and issuance of Right Shares is subject to receipt of all regulatory approvals.