Quarterly Newsletter Central Depository Company

BOUNDLESS HUES OF NATURE

Brown Tones of Endurance

Mountains are deemed the nails of the Earth. These gigantic rock formations have stood against the test of time and the changing weather dynamic across the globe. Mountains symbolize resilience, strength and the poise to pull through any and every challenge that comes our way.

In a similar fashion, CDC has stood against its own unique challenges, only to come out successfully and achieve remarkable feats for itself. In the past two decades since the inception of its operations, its resolve toward promoting efficiency and transparency has reflected consistently in its operational legacy. CDC has been spearheading the digital revolution in the Capital Market with a resolute commitment towards market development & transformation through innovation.

Head Office: Lahore Branch: CDC House, 99-B, Block ‘B’, S.M.C.H.S., Main Mezzanine Floor, South Tower, LSE Plaza, 19 Shahrah-e-Faisal, - 74400. Khayaban-e-Aiwan-e-Iqbal, Lahore-54000, Tel: (92-21) 111-111-500 I Fax: (92-21) 34326031 Tel: (92-42) 36368000-3 I Fax: (92-42) 36368484-5

PSX Branch: Email: [email protected] Mezzanine Floor, Building, URL: www.cdcpakistan.com Stock Exchange Road, Karachi. Tel: (92-21) 32416774 I Fax: (92-21) 32444491 Customer Support Services: 0800 – 23275 (CDCPL) Islamabad Branch: Room # 410, 4th Floor, ISE Towers REIT Management For Overseas Callers: +92 (21) 34326038 Limited, 55-B, Jinnah Avenue, Blue Area, Islamabad. Tel: (92-51) 2895456-9 I Fax: (92-51) 2895454 Contents

A heartfelt message by Mr. Badiuddin Akber, CEO CDC, on the occasion of the New Year 01 CDC facilitates investment in Pakistan Stock Market by Non Resident Pakistanis through Roshan Digital Account About Roshan Digital Account Investment Options available through Roshan Digital Account Investing in Pakistan Stock Market through Roshan Digital Account Role of CDC Awareness Webinars for Roshan Digital Account holders Series of Awareness Sessions for brokers for facilitation of Roshan Digital Account 02 CDC’s Support for Roshan Digital Account holders CDC has facilitated more than 1400 RDA accounts for Capital Market investment (31st Dec 2020)

CDC Trustee and Custodial Services reaches Net Assets of PKR 1 Trillion 05 CDC and MUFAP sign MoU for Mutual Fund Digital Platform (MFDP) 06 CDC’s Investor Facilitation Initiatives Investor Services Webinars Financial Literacy Webinar Awareness Webinar with Al-Meezan Investment Management eIPO Promotion (eServices Portal) 07

CDC Share Registrar Services (CDCSR) Launches Virtual Meeting Solution to conduct AGM and EOGM Meetings 08

ITMinds Limited, a CDC Subsidiary, acquires distributorship for Mutual Funds/Voluntary Pension Schemes 08 CDS Updates and Regulatory Changes Remote Education via NMS: Vital Messages Sent to CDS Elements Regularization of Terminals used for Work from Home Reduction in CDC Tariff Structure Amendments in Licensing Regulations of the SRO’s Final Extension in Deadline for Implementation of Zakat Repository System 09 Simpli cation of Account Opening Forms Revision in Annual Fee of CDC Tariff Structure Limit on Assets under Custody (AuC) for TREC holders with FYE June 30, 2020 Statistical Highlights 11 THE

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A heartfelt message by Mr. Badiuddin Akber, CEO CDC, on the occasion of the New Year

he dawn of an upcoming companies in complying with the year and the end of an regulatory obligation of holding T ongoing one is an important AGM/EoGM while maintaining time to reflect on our goals and complete social distancing. This year invoke our thoughtful spirit. As also marks the launch of the 2020 draws to an end, I would like "Roshan Digital Account" (RDA), an to take this opportunity to recount initiative by SBP for digitally our mutual accomplishments for the on-boarding non-resident Pakistanis year and renew our motivation for (NRPs). It is indeed a matter of great persevering in the path of achieving honor that CDC was the chosen our strategic goals in the year ahead. entity by SBP to facilitate NRPs in Undisputedly, 2020 has been a very investment in the Pakistan Capital challenging year with Market through their RDAs by unprecedented challenges for the acting as the infrastructure bridge current generations over the World. between Banks and capital market It has been an intensely tiring and entities. stressful time at both the individual as well as the institutional levels. I feel that the challenges and I hope and pray that the dawn of the However, every cloud has a silver adversity of the year have brought New Year brings hope, health, lining, and the resolute spirit of us even closer and stronger, both on prosperity and peace for the entire resilience that emerged throughout the national and institutional levels. mankind. Take very good care of mankind during this tough time has Each one of us has played an yourselves and the people around proven that nothing is impossible, important role with sincere efforts you; it is important that we continue and that there is a way out of even and commitment throughout these to stay strong, both mentally and the grimmest of problems if we all trying times. I can confidently say spiritually, in such challenging stand united. that 2021 is going to be even bigger times. I wish you all a very Happy and better as we continue to grow as New Year 2021! At CDC, this spirit of resilience has an Organization! been brilliant and a tremendous source of pride for the entire I am honored to share with you our Organization. As the CDC family, achievements for the year 2019-20 we stood united and resolute; as an through the Annual Report, which Organization, we emerged stronger has been launched in multiple and more determined in our digital formats (web pages, video tenacity to our strategic objectives. and PDF) in accordance with the Our BCP preparedness over the digitalization theme which has been years helped us in maintaining our spurred with even greater exigency operational efficiency without any this year. You can access it on glitches. Our team members came https://annualreport.cdcpakistan.com/ together to discover and implement new ways to help our customers and partners to rapidly react to the changing nature of business. Not only did we adapt to the new way of conducting business while staying connected but we also launched new products and services to facilitate our clients in responding to the situation. We launched the “E-meetings solution” which supports our client Issuer

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CDC facilitates investment in Pakistan Stock Market by Non Resident Pakistanis through Roshan Digital Account

About Roshan At present, seven (7) leading a. Pakistani rupee-denominated domestic banks are facilitating the debt securities of Government Digital Account opening of Roshan Digital Accounts of Pakistan (including USD or through their web portals / apps. Pakistani-Rupee Naya Pakistan Roshan Digital Account is a The customer can choose either a Certificates, T-bills, PIBs, landmark initiative by the State Foreign Currency Value Account Sukuks and any other registered Bank of Pakistan to facilitate (FCVA) or a NRP Rupee Value securities of the government); Overseas Pakistanis in opening a Account (NRV), or both. The funds digital / online bank account with available in the account can be b. Shares quoted on the Pakistan SBP designated banks. This account repatriated from Pakistan anytime Stock Exchange; and can be opened in only 14 clicks, by without any approval from bank or providing only 6 documents. In just SBP, thus making remittances very c. Residential and commercial real 48 hours, Roshan Digital Account convenient. The Roshan Digital estate. will be opened. There is no need to Account also extends value-added visit a bank branch or the benefits for the NRPs by enabling For Roshan Digital Account holders consulate/embassy. Through this them to take advantage of the keen on investing in the Pakistan unique account, Non Resident lucrative returns of a variety of Stock Market, CDC acts as the Pakistanis (NRPs) will be provided investment options in their country. Central Hub by collecting their convenient access to all account information from banks and conventional bank account services processing it further to enable them like funds transfer, bills and fee Investment Options to trade on PSX. payments, ecommerce & channeling available through remittances. CDC’s selection for this Roshan Digital groundbreaking feat comes from its This is a hallmark endeavor by SBP background of unrelenting resolve for the digital onboarding of about Account towards effecting transparency and nine million Pakistani diaspora, efficiency and being the only most of which are outside the Roshan Digital Account also non-banking institution to be country’s financial system. provides an efficient, secure and granted access by SBP for Custody Remittances from this large overseas convenient mechanism for Non of Government Securities (RTGS). population are considered a critical Resident Pakistanis (NRPs) to invest asset for Pakistan’s economy. in various instruments including:

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Investing in Pakistan Stock Market through Roshan Digital Account

6. Notify on opening of accounts

14 clicks & 6 documents PLUS Broker Selection

1. NRIP Initiates Digital KYC and account opening process with the designated Banks Cash 2. NRVA Account Opened NRIP APS

NRVA Facilitation SBP designated 3. Share for Capital KYC data & banks Market Trading documents 1. UBL 2. BAFL 3. HBL 4. MBL 5. Samba Brokerage NCCPL houses IAS DSS 6. MCB Platform/Hub 7. FBL 4. Share KYC data & documents

5. Confirm status of UIN creation, trading account & custody account

Role of CDC

Upon receiving NRP’s information and credentials from the NRP’s bank, CDC will facilitate in the following procedures:

Creation of UIN by NCCPL CDC forwards it to National Clearing Company of Pakistan Limited (NCCPL) for creation and registration of NRP’s Unique Identification Number (UIN)

Opening of Trading Account by Selected Broker CDC forwards UIN and above mentioned information to NRP’s selected broker

Opening of Custody Account by CDC CDC opens CDC Custody Account of the NRP and share its Registration Details with him/her

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After the aforementioned steps, the NRP will be ready to invest in the Pakistan Stock Market through Roshan Digital Account.

“Overseas Pakistanis are indeed a very valuable asset of our country and the Central Depository Company of Pakistan Limited (CDC) is privileged to facilitate them for investment in one of Asia’s best performing stock markets through their Roshan Digital Account.”

Our service for Roshan Digital Account Holders is especially designed to facilitate Overseas Pakistanis desirous of investing in the stock market through an efficient, secure and convenient process.

On behalf of CDC, I urge Non-Resident Pakistanis to participate in the collective growth of Pakistan’s economy, invest in your own country and employ good investor habits to ensure your investment remains safe and increases in a steady manner.” - Mr. Badiuddin Akber, CEO-CDC.

Awareness Webinars for Roshan Digital Account holders

As part of its efforts to attract Banks, Pakistani Business Councils organizations and entities, have Roshan Digital Account holders to and Foreign Missions. organized the following investor opt for Investment in Stock Market, awareness webinars for customer CDC has been aggressively Keeping in view of the introduction facilitations and promote awareness conducting awareness webinars for to the Roshan Digital Account, CDC, to increase the investor base in NRPs in collaboration with Brokers, in collaboration with multiple Pakistan.

Series of Awareness Sessions for brokers for facilitation of Roshan Digital Account

To bolster efforts to help market awareness sessions were held for Akber, CEO-CDC, led the sessions participants in understanding Roshan TREC holder Participants in Karachi, with a panel comprising of senior Digital Account and its workings, Lahore and Islamabad. Mr. Badiuddin representatives from CDC and PSX.

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CDC’s Support for CDC has facilitated investor accounts for RDA account-holders, with foreign Roshan Digital more than 1400 RDA remittances crossing PKR 274 million (as of 31st Dec 2020). With Account holders accounts for Capital persistent efforts rendered, CDC is in constant motion to grow this To assist Roshan Digital Account Market investment number and further attract more holders interested in investing in the stock market, CDC has established a (31st Dec 2020) Pakistanis based abroad through a number of dedicated resources multi-pronged approach. In the last three months since the including Helpline 92-21-38623275 successful integration of Roshan and Email [email protected]. Digital Account with the Capital Comprehensive information is also Market, CDC Investor Account provided on the CDC website. Services has now crossed over 1400

CDC Trustee and Custodial Services reaches Net Assets of PKR 1 Trillion

With the remarkable confidence being managed by various Asset With the launch of each new bestowed by Asset Management Management Companies product, CDC is always brought to Companies on CDC’s Trustee and (AMCs)/Pension Fund Managers the forefront as a co-partner by the Custody Services, the Net Assets of (PFM) with an aggregate fund size Asset Management Companies the funds and portfolio clients of approximately Rs. 953 billion. The operating in Pakistan. Realizing the under CDC Trusteeship / success of this journey is standing importance of its role, CDC Trustee Custodianship have crossed rupees on the keystone placed by the & Custodial Services always One Trillion. Management through its vision, introduces novel solutions and employees through their efforts and continuous process improvement CDC as Trustee in the Mutual Fund the Commission through its within the paradigm of IT system industry has attained 97% market guidance. infrastructure and human resource share in Net Assets through its support. Besides rendering these performance and gained the In 2008, CDC started providing services for conventional Mutual & confidence of SECP, leading to its custody services to portfolio clients Pension Funds, CDC Trustee & recognition as Trustee for Real being managed by different Custodial Services provides services Estate Investment Trust (REIT) Investment Advisors and to entities beyond its scope of work, launched in Pakistan. CDC, through successfully inducted 269 clients till such as rendering services to the its proactive approach and high date with an aggregate size of Punjab Pension Fund, Exchange standards of service, has obtained approximately Rs. 60 billion, Traded Funds and Private Funds. the leading position in the Trustee & covering corporates as well as Custodial service sector, currently individuals under the umbrella of providing Services to 211 Funds its Trustee & Custodial services.

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CDC and MUFAP sign MoU for Mutual Fund Digital Platform (MFDP)

entral Depository Company Oct 2020 for the development and While addressing the occasion, of Pakistan Limited (CDC) implementation of this digital Chairman SECP - Mr. Aamir Khan C is one of the very few platform aimed to support the said that “This initiative is in line organizations that have been Mutual Fund industry. with SECP’s highly recommended credited consistently for promoting course of action for the mutual fund ease of doing business by Mr. Aamir Khan, Chairman - industry which advocates the reimagining business culture Securities and Exchange development of alternate through digital transformation. In Commission of Pakistan (SECP) distribution channels and digital line with its vision to effect Market presided at the MoU Signing platforms. The recent circumstances Transformation through Ceremony at the CDC House, induced by the pandemic make it all digitalization, CDC has been Karachi. the more exigent for AMCs to working on the concept of a Mutual undergo complete digital Fund Digital Platform (MFDP) At the occasion, describing the transformation. This platform will which has been envisioned to features of the platform, CEO-CDC facilitate investors from specific enhance the investor outreach for Mr. Badiuddin Akber said that, market segments and low-risk AMCs by harnessing the power of “This FinTech solution aims to investors, thus promoting financial technology to provide a cost and enhance the investor outreach for inclusion at the grass root level and time efficient solution for investors Asset Management Companies harvesting the savings culture in to invest in a wide range of (AMCs) by leveraging the power of Pakistan.” investment products offered by technology to provide a convenient, different fund families. This solution informative and interactive medium The audience was also addressed by will facilitate investors to perform for investors to invest in a wide Mr. Farrukh Sabzwari - market and fund analytics, digitally range of investment products Commissioner Specialized on-board accounts with the AMCs offered by different mutual funds.” Companies Division SECP, Ms. and perform online investment, Khalida Habib - Executive Director redemption and conversion Dr. Amjad Waheed-Chairman Specialized Companies Division transactions. In this regard, CDC MUFAP-applauded the efforts of SECP and Mr. Moin Fudda - (through its subsidiary ITMinds CDC and SECP and said that this Chairman CDC Limited) signed a Memorandum of initiative will pave the way for the Understanding with Mutual Funds growth of the Mutual Fund Association of Pakistan (MUFAP) in Industry.

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CDC’s Investor Facilitation Initiatives Investor Services Webinars

DC’s flagship Investor financial literacy seminars to Awareness Seminars have educate them regarding different eIPO Promotion been introduced to ensure investment avenues, encourage their (eServices Portal) knowledgeC is formally imparted. participation and eliminate Previously, these seminars were misconceptions regarding the Centralized eIPO system (CES) has conducted face-to-face. However, industry. been developed by CDC to provide with the recent pandemic, CDC an efficient, easy and hassle free transformed these in-person Recently, a Financial Literacy mechanism to the general public for seminars into investor awareness Webinar was conducted which was submitting applications for webinars, yielding the following attended by prospective investors subscription of securities offered for benefits: from all over the world. Attendees sale through Initial Public Offerings participated through Zoom, and the (IPOs). - CDC ensured the safety of its session was Live on CDC’s investors, enabling them to take Facebook page. The session was Centralized eIPO was promoted part in these webinars while conducted by Mr. Akber Tejani through different mediums during maintaining social distancing. (Founder of BeFiler) followed by an the recent IPOs, with new investors interactive Q/A session. that register on the eServices portal. - Current account holders and The main purpose of these potential investors who seek awareness efforts regarding CES is guidance regarding CDC can Awareness Webinar to educate the retail investors of the attend these webinars from with Al-Meezan benefits and usage of CES. CDC has anywhere in the world. achieved a number of other feats Investment with the launch of CES that include: - Participants can easily raise Management their queries and suggest • Increased investor participation improvements. CDC organized its flagship Investor in IPOs. Awareness Webinar in collaboration Participants have shown great with Al-Meezan Investment • Promotion of the culture of appreciation and response for these Management. Mr. Shariq Naseem, keeping securities in book entry webinars. They keenly show interest Head of PD and Marketing at CDC form, thus obviating the and provide feedback that CDC and Mr. Talha Anwer, Country Head inefficiencies related to paper should regularly organize such Sales at Al-Meezan conducted the based securities. sessions. session, catering to a wide audience and engaging through virtual In the recent eIPOs, with the platforms of Facebook Live and facilitation provided by CDC’s eIPO Financial Literacy Zoom. The session followed by an platform, the electronic Webinar interactive Q&A session. The session subscriptions of the IPOs through was lauded by the participants, with CDC’s platform reached the To help improve general public’s emphasis on holding more these following impressive figures: confidence on the Pakistan Capital sessions like these in the future. Market, CDC regularly conducts

Total no. of No. of new investors Subscription Collection amount Company subscriptions who subscribed through CDC through CDC’s in PKR through CDC’s IPO as % of total eIPO platform Facilitation feature subscriptions The Organic Meat Company Limited 1700 Around 100 million 477 62% TPL Trakker 1224 38.8 million 474 82% 07 THE

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CDC Share Registrar Services (CDCSR) Launches Virtual Meeting Solution to conduct ITMinds Limited, a AGM and EOGM Meetings CDC Subsidiary, acquires

OVID-19 has severely CDC Share Registrar Services distributorship for disrupted our business Limited has taken a lead by Mutual Funds/ C routines and work life on a conducting various scheduled Voluntary Pension collective level. With social AGMs/EOGMs/Board Meetings, distancing as the prescribed tool to Election of Directors through Schemes avoid the spread of Coronavirus, E-voting, physical balloting and virtual contacts have rapidly Corporate briefings of various client increased at all tiers. Virtual companies including ITMinds Limited, a CDC Subsidiary, Meetings have proved the most Multinationals, Banks and FMCGs. in its decision to implement and effective source for meetings and at Apart from that, it is notable to operate the online distributorship all levels of business landscape. To mention that virtual services were platform for Mutual Funds, has harness the power of technology also obtained by the companies acquired the license to act as and routing business on schedule, which are not currently CDCSR Distributor for Mutual CDC Share Registrar Services clients to conduct their Funds/Voluntary Pension Schemes Limited started offering services of AGMs/EOGMs. All support (VPS) of various Asset Management Video Link (e-meeting solution) to services including WhatsApp, Companies. ITMinds has secured its all its clients desirous to conduct connectivity, voice control, complete dedicated license of Securities their AGMs/EOGMs/ Board video recording were exercised and Adviser from the Securities & Meetings and Corporate Briefing the same were lauded and Exchange Commission of Pakistan virtually. appreciated by all clients. (SECP) under Securities and Futures Advisers (Licensing and Operations) Regulations, 2017. In line with its parent company CDC Share Registrar Services CDC’s strategic objectives and Limited is the only Registrar in ITMinds will be implementing and business methodology, CDCSR Pakistan who is successfully operating the Mutual Fund Digital launched a model of virtual services providing video link services. Platform which will function as a during COVID-19; majority of CDCSR has adopted this solution to digital distributorship platform for CDCSR clients immediately hired broaden its horizon and pave the the mutual funds of various Asset these services and conducted way for maximizing clientele and Management Companies. The meetings virtually at their improving business relationships. distinctive feature that makes this scheduled time instead of cancelling service unique in the industry is or postponing them. end-to-end process digitization.

This implies that all steps implicated from the point of bringing an investor on board to the executing of transactions will be conducted through an entirely digitized medium. With the introduction of novel solutions in its service portfolio, ITMinds aims to continue maintain its position and expand its horizons to achieve all current and future endeavors.

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CUSTODIANSLATE CDS Updates and Regulatory Changes

Remote Education via NMS: Vital Messages Sent to CDS Elements

Multiple messages were sent to CDS Elements in continuation of CDC’s endeavor to educate them about their role and associated responsibilities.

Public and Private Companies can issue shares by way of right In line with the regulations prescribed by CDC, Public Unlisted Companies and Private Companies can issue shares by way of right in the CDS after fulfilling procedural requirements. In addition to this, the requirement of issuing unpaid shares in the CDS has been relaxed for companies.

Updation of CNIC and other critical records in the CDS All CDS Elements have been notified to update their CNIC to avoid any legal consequences and to continue routine business operations.

Requirement of an Independent Share Registrar Agent Issuers (other than Private Company and Single Member Company) are hereby duly informed that all securities of an Issuer listed at the Stock Exchange are mandated to have an Independent Share Registrar Agent as prescribed in the Share Registrars and Balloters Regulation, 2017.

Participant’s authorization of a secondary emergency contact All Pakistani residents who are Sub-Account Holders can now submit the contact number of a close family member upon a duly signed authorization letter from the respective participant under a prescribed format given by CDC.

Singular Pledge Transactions authorized by Sub-Account Holders & Due Approvals All Independent Pledge Transactions must be authorized from the Sub-Account upon the authorized notification of the Sub-Account holder in favor of the Eligible Pledgee & the Clearing House. Further, it is mandatory for Participants to notify Eligible Pledgees in a timely fashion that they have received the due authorization required for each pledge transaction, submitted in a format prescribed by CDC.

No modifications or account activity to be undertaken on behalf of Participants It is hereby obligatory for all Participants to not make any changes on forms such as Sub-Account Opening Form, Customer Relationship Form and the Sahulat Account Opening Form. Additionally, any transaction handling done without prior submission of the Sub-Account Opening Form, Customer Relationship Form or the Sahulat Account Opening Form is strictly prohibited.

Submission of RTA Reconciliation Report An RTA Reconciliation Report vetted by external auditors must be duly submitted by Issuers within four (4) months of the end of financial year as prescribed in CDC Procedures.

Submission of Free Float Securities in the CDS In line with the mandatory requirement published by PSX, all listed Issuers/RTA, after complete review and inspection, are mandated to submit authentic information regarding Free Float Securities in the CDS.

Updation of Cash Dividends Issuer is mandated to upload all cash dividends to CDC via the Centralized Cash Dividend Register (CCDR) within seven days after dividends have been disbursed in a format prescribed by CDC.

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Regularization of Terminals Final Extension in Deadline Revision in Annual Fee of used for Work from Home for Implementation of Zakat CDC Tariff Structure Repository System (Circulars: May 28, 2020) (Circular: October, 23, 2020) (Circular: September 03, 2020) To further solidify the ambit of digital Investor Protection has been the number access for CDS elements and tighten Multiple circulars have been sent to the one priority at CDC. CDC is involved in security protocols to yield secure and Participants and Issuers regarding the creating novel and advance solutions to incessant service, CDC has extended the submission of Zakat Forms (CZ-50). make sure that customer facilitation is process of regularizing unregistered Given the current scenario due to delivered in full. In line with this terminals that were brought to us COVID-19, after great discussion resolve, CDC has made revisions in the during the initial timeframe of the undertaken by the Pakistan Stock Annual Fee charged in the CDC Tariff lockdown. Those registered will see a Broker’s Association, extension was Structure. This would greatly benefit all list of HDD Serial Numbers connected granted till the 31st of October 2020. No stakeholders, further strengthening to all terminals with regards to further extension shall be granted in this investor confidence in the Pakistan Work-from-Home strategy. Others that regard; thereby, all Participants have Capital Market. remain unregistered are obliged to been advised to duly compile, scan and submit their details to be authorized upload their completed forms under Limit on Assets under under CDC. their respective Participant ID by the Custody (AuC) for TREC due deadline to avoid any discrepancy holders with FYE June 30, Reduction in CDC Tariff or delay. Structure 2020 Simpli cation of Account (Circular: October 22, 2020) (Circular: July 01, 2020) Opening Forms CDC has iterated to all Participants of As part of CDC’s resolve to render (Circulars: October 29, 2020) the Pakistan Capital Market to submit continuous support to capital market their Capital Adequacy Level as of June investors and stakeholders, CDC has Ease of doing business is the number 30, 2020 latest by October 30, 2020. It is significantly reduced its tariff as stated one priority on the reform agenda of the to further clarify that either one of the in the Fees and Deposit Schedules. CDC Securities and Exchange Commission of following that require submission: has rationed its tariff structure, greatly the Pakistan (SECP). In line with its benefiting its stakeholders and further vision to creating an environment 1. Submit their Capital Adequacy strengthening investor confidence in supportive of investment and efficient Level; or Pakistan’s growth and progress. business operations, the Board of Directors at CDC have given their due Amendments in Licensing 2. Annual Financial Statements that approval for the amendments in account disclose the same Regulations of the SRO’s opening forms for customer facilitation. These forms include Customer All Participants are further mandated (Circular: August 21, 2020) Relationship Form (CRF), Sahulat that only true copies of the financial Account Opening Form (Sahulat Form), statements that been accepted for this In the light of the recent amendments Sub-Account Opening Form (SAOF) and submission. made in the Securities Exchanges Sub-Account Opening Form for Bank (Licensing and Operations) Regulations, Participants (SAOF – Bank Participant). 2016, Central Depositories (Licensing Hence, with immediate effect, all Terms and Operations) and Clearing House and Conditions (T&C’s) submitted prior (Licensing and Operations) Regulations, to signatures of the customer and 2016, all due changes have been Participant shall now be removed and communicated for the understanding of submitted as Annexure at the time of the public for due diligence. account opening.

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STATISTICAL HIGHLIGHTS AS OF DECEMBER 31, 2020

CENTRAL DEPOSITORY SYSTEM (CDS) BREAKUP OF SECURITIES TYPE OF ELEMENTS

Participants / Prefernce Shares Account Holders 15 633 Issuers TFCs / Sukkuk Ordinary Shares 795 123 776 Open End Units

45 Pledgees 93

TRUSTEE & CUSTODIAL SERVICES

Total Number of Mutual Funds, Pension Funds & Discretionary Portfolios Assets under Trustee-ship

493 1,113 Billion

ITMINDS LIMITED

Particulars Numbers Assets Size in Millions Mutual Funds 48 95,388 Retirements Funds 19 29,682 Portfolio Clients 3 1,149 TOTAL 70 126,219

SHARE REGISTRAR SERVICES MARKET SHARE OF CDC R/TA (IN TERMS OF %) IN KSE 100 INDEX (%)

Client Companies FAMCO Listed Companies 112 24 THK CDC Unlisted Companies 101 13 Corplink 39 Total Securities 213 11 Physical Folios 324,080 Others 13

11 INVESTOR ACCOUNTSERVICES(IAS) AS OFDECEMBER31,2020 AS OFDECEMBER31,2020 No.ofSecurities(InBln) No.ofAccounts ACTIVATIONS (FORIASCUSTOMERS) Activation ofSMS Activation ofIVR/WEB No. ofIASAccounts

Corporate Investor Account

Individual Investor Account CUSTODIAN

1,442 Karachi

41,023 SLATE THE

546 Lahore

11,150 46,637 59,919 34,955

131 Islamabad

5,627 59,919 92.96 12 THE

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SECURITIES INDUCTED INTO CDS

S. No. Security Name Security Type Live Date 1 K-electric Limited - Islamic Commercial Paper (ICP-5) Debt Instruments 2-Apr-20 2 K-electric Limited - Islamic Commercial Paper (ICP-6) Debt Instruments 7-Apr-20 3 Ltd-tier Ii Mudaraba Sukuk Certificate-2nd Issue Debt Instruments 9-Apr-20 4 Tez Financial Services Limited Ordinary Shares 10-Apr-20 5 Oil Processors & Refiners (Private) Limited Ordinary Shares 17-Apr-20 6 K-electric Limited - Islamic Commercial Paper (ICP-7) Debt Instruments 7-May-20 7 Bankislami Ehad Sukuk (21-04-2020) Debt Instruments 11-May-20 8 Jaag Broadcasting Systems (Private) Limited Ordinary Shares 19-May-20 9 Pakistan Energy Sukuk - II Debt Instruments 21-May-20 10 K-electric Limited - Islamic Commercial Paper (ICP-8) Debt Instruments 5-Jun-20 11 Pakistan Mortgage Refinance Company Limited-TFC1 Debt Instruments 23-Jun-20 12 Nrsp Agriculture Processing Company Limited Ordinary Shares 23-jun-20 13 -TFC- VII Debt Instruments 30-jun-20 14 Malir Expressway (Private) Limited Ordinary Shares 2-Jul-20 15 D. D Exchange Company (Pvt) Limited Ordinary Shares 10-Jul-20 16 Lakeside Energy Limited Ordinary Shares 30-Jul-20 17 The Limited-sukuk Certificates (5th Issue) Debt Instruments 3-Aug-20 18 Excel Labs (Private) Limited Ordinary Shares 10-Aug-20 19 K-electric Limited - Sukuk-5 (03-08-2020) Debt Instruments 19-Aug-20 20 The Hub Power Company Limited-sukuk Certificates (6th Issue) Debt Instruments 19-Aug-20 21 Marine International Container Terminal (Private) Limited Ordinary Shares 26-Aug-20 22 Pakistan Inyermodal Limited Ordinary Shares 26-Aug-20 23 Din Developments Private Limited Ordinary Shares 26-Aug-20 24 Alhamra Islamic Money Market Fund Open End Fund 8-Sep-20 25 Power Cement Limited - Preference Shares Preference Shares 15-Sep-20 26 Meezan Pakistan Exchange Traded Fund Open End Fund 17-Sep-20 27 Gelcaps (Pakistan) Limited Ordinary Shares 23-Sep-20 28 Pearl Ceramics (Private) Limited Ordinary Shares 23-Sep-20 29 Naveena Exports Limited Ordinary Shares 28-Sep-20 30 Nbp Pakistan Growth Exchange Traded Fund Open End Fund 29-Sep-20 31 Act2 Wind (Private) Limited Ordinary Shares 2-Oct-20 32 K-electric Limited - Islamic Commercial Paper (ICP-9) Debt Instrument 14-Oct-20 33 Agha Steel Industries Limited Ordinary Shares 15-Oct-20 34 K-electric Limited - Islamic Commercial Paper (ICP-10) Debt Instrument 28-Oct-20 35 Sadaqat Limited - TFC Debt Instrument 29-Oct-20

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S. No. Security Name Security Type Live Date 36 K-electric Limited - Islamic Commercial Paper (ICP-11) Debt Instrument 11-Nov-20 37 K-electric Limited - Islamic Commercial Paper (ICP-12) Debt Instrument 25-Nov-20 38 Dollar East Exchange Company (Private) Limited Ordinary Shares 18-Nov-20 39 Eclear Services Limited Ordinary Shares 30-Nov-20 40 Abl Islamic Cash Fund Open End Fund 30-Nov-20 41 Aeg Enterprises (Private) Limited Ordinary Shares 9-Dec-20 42 Tpl Property Management (Private) Limited Ordinary Shares 15-Dec-20 43 K-electric Limited - Islamic Commercial Paper (ICP-13) Debt Instrument 16-Dec-20 44 Eman Management (Private) Limited Ordinary Shares 24-Dec-20 45 Engro Polymer & Chemicals Limited - Preference Shares Preference Shares 30-Dec-20

SECURITIES DELISTED/REVOKED FROM CDS

S. No. Security Name Security Type Delist Date 1 K-electric Limited - Islamic Commercial Paper (ICP-A) Debt Instruments 11-Apr-20 2 Cirin Pharmaceuticals (Private) Limited Ordinary Shares 6-May-20 3 K-electric Limited - Islamic Commercial Paper (ICP-3) Debt Instruments 8-May-20 4 Ltd.-ptc (Redundant Date 10-10-2019) Debt Instruments 4-Jun-20 5 Foundation Wind Energy - II (Private) Limited Ordinary Shares 23-Jun-20 6 Foundation Wind Energy - I Limited Ordinary Shares 23-Jun-20 7 K-electric Limited - Islamic Commercial Paper (ICP-5) Debt Instrument 8-Sep-20 8 K-electric Limited - Islamic Commercial Paper (ICP-6) Debt Instrument 23-Sep-20 9 Ltd-islamic Rupiya-sukuk2 (10-06-14) Debt Instrument 30-Sep-20 10 K-electric Limited - Islamic Commercial Paper (ICP-7) Debt Instrument 13-Oct-20 11 Refund Bond Debt Instrument 28-Oct-20 12 Refund Bond - 1 (27-06-22) Debt Instrument 28-Oct-20 13 Refund Bond - 2 (31-07-22) Debt Instrument 28-Oct-20 14 Refund Bond - 3 (02-09-22) Debt Instrument 28-Oct-20 15 K-electric Limited - Islamic Commercial Paper (ICP-8) Debt Instrument 6-Nov-20 16 Naveena Exports Limited Ordinary Shares 10-Nov-20 17 Limited - Certificate Of Leasing - II Debt Instrument 17-Dec-20 18 Sui Southern Gas Company Limited - Certificate Of Leasing - III Debt Instrument 17-Dec-20 19 Sui Southern Gas Company Limited - Certificate Of Leasing - IV Debt Instrument 21-Dec-20 20 Malir Expressway (Private) Limited Ordinary Shares 22-Dec-20 21 Pak Elektron Limikted - Commercial Paper (4th Issue) Debt Instrument 23-Dec-20

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CORPORATE ACTIONS CREDIT OF NEW ISSUES/OFFER FOR SALE

S. No. Security Name Issue Type Security Type Apply Date 1 K-electric Limited - Islamic Commercial Paper (ICP-5) New Issue Debt Instrument 15-Apr-20

2 K-electric Limited - Islamic Commercial Paper (ICP-6) New Issue Debt Instrument 16-Apr-20

3 Meezan Bank Ltd-tier Ii Mudaraba Sukuk Certificate-2nd Issue New Issue Debt Instrument 22-Apr-20

4 K-electric Limited - Islamic Commercial Paper (IP-7) New Issue Debt Instrument 6-May-20

5 Bankislami Ehad Sukuk (21-04-2020) New Issue Debt Instrument 8-May-20

6 Pakistan Energy Sukuk - II New Issue Debt Instrument 20-May-20

7 K-electric Limited - Islamic Commercial Paper (ICP 8) New Issue Debt Instrument 4-Jun-20

8 Pakistan Mortgage Refinance Company Limited-TFC1 New Issue Debt Instrument 19-Jun-20

9 Matco Foods Limited New Issue - Final Tranche Ordinary Shares 24-Jun-20

10 Bankislami Ehad Sukuk Pk (21-04-2020) New Issue - 2nd Tranche Debt Instrument 26-Jun-20

11 Askari Bank Limited - TFC VII New Issue Debt Instrument 29-Jun-20

12 The Organic Meat Company Limited New Issue Ordinary Shares 29-Jul-20

13 The Hub Power Company Limited - Sukuk Certificates (5th Issue) New Issue Debt Instruments 30-Jul-20

14 TPL Trakker Limited New Issue Ordinary Shares 6-Aug-20

15 The Hub Power Company Limited-sukuk Certificates (6th Issue) New Issue Debt Instrument 18-Aug-20

16 K-electric Limited - Sukuk 5 (20-08-2020) New Issue Debt Instrument 18-Aug-20

17 Tpl Trakker Limited (IPO 2nd Tranche) New Issue Ordinary Shares 24-Aug-20

18 The Organiic Meat Company Limited New Issue (2nd Tranche) Ordinary Shares 3-Sep-20

19 Bankislami Ehad Sukuk (21-04-2020) New Issue (3rd Tranche) Debt Instrument 4-Sep-20

20 K-electric Islamic Commercial Paper - (ICP-09) New Issue Debt Instrument 13-Oct-20

21 K-electric Islamic Commercial Paper - (ICP-10) New Issue Debt Instrument 14-Oct-20

22 Agha Steel Industries Limited New Issue Ordinary Shares 27-Oct-20

23 Sadaqat Limited - TFC New Issue Debt Instrument 28-Oct-20

24 K-electric Limited - Islamic Commercial Paper (ICP 11) New Issue Debt Instrument 7-Nov-20

25 K-electric Limited - Islamic Commercial Paper (ICP 12) New Issue Debt Instrument 24-Nov-20

26 Eclear Services Limited New Issue Ordinary Shares 27-Nov-20

27 Tpl Property Management (Private) Limited New Issue Ordinary Shares 14-Dec-20

28 K-electric Limited - Islamic Commercial Paper (ICP-13) New Issue Debt Instrument 15-Dec-20

29 Engro Polymer & Chemicals Limited - Preference Shares New Issue Preference Shares 29-Dec-20

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CREDIT OF SHARES / CERTIFICATE AGAINST RIGHT ISSUE / FURTHER ISSUE

S. No. Security Name Issue Type Apply Date

1 Pak Oman Asset Management Company Limited Right Issue 1-Apr-20

2 Azgard Nine Limited Right Issue 15-Apr-20

3 Azgard Nine Limited - Non Voting Ordinary Shares Right Issue 15-Apr-20

4 Ismail Industries Limited Right Issue 16-Apr-20

5 Advans Pakistan Microfinance Bank Limited Right Issue 24-Apr-20

6 Electric Limited Right Issue 28-Apr-20

7 Sazgar Engineering Works Limited Right Issue 30-Apr-20

8 U Microfinance Bank Limited Further Issue 5-May-20

9 Dawood Lawerencepur Limited Right Issue 12-May-20

10 Fauji Fresh N Freeze Limited Right Issue 20-May-20

11 Indus Wind Energy Limited Right Issue 21-May-20

12 Zephyr Power (Private) Limited Right Issue 5-Jun-20

13 Naymat Collateral Managment Company Limited Right Issue 5-Jun-20

14 Din Energy Limited Right Issue 8-Jun-20

15 Habib Asset Management Limited Right Issue 5-Jun-20

16 Lucky Electric Power Company Limited Right Issue 15-Jun-20

17 Hub Power Holdings Limited Right Issue 19-Jun-20

18 Naymat Collateral Managment Company Limited Right Issue (2nd Tranche) 22-Jun-20

19 Naveena Steel Mills Private Limited Right Issue 24-jun-20

20 Jaag Broadcasting Systems (Private) Limited Right Issue 24-Jun-20

21 Thar Energy Limited Right Issue 30-Jun-20

22 International Packaging Films (Private) Limited- Right Issue 21-Jul-20

23 Metro Pakistan (Private) Limited Right Issue 23-Jul-20

24 Pakistan Refinery Limited Right Issue 24-Jul-20

25 Treet Corporation Limited Further Issue (Esos) 24-Jul-20

26 Advans Pakistan Microfinance Bank Limited Right Issue 3-Aug-20

27 Ranipur Sugar Mills Private Limited Right Issue 21-Aug-20

37 Luna Pakistan (Private) Limited Right Issue 3-Sep-20

38 Mandviwalla Mauser Plastic Industries Limited Further Issue 14-Sep-20

39 Power Cement Limited - Prefrence Shares Right Issue 15-Sep-20

40 Power Cement Limited - Prefrence Shares Right Issue (2nd Tranche) 17-Sep-20

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S. No. Security Name Issue Type Apply Date

41 Metro Wind Power Limited Right Issue 18-Sep-20 42 Unity Foods Limited Right Issue 22-Sep-20 43 Lucky Electric Power Company Limited Right Issue 22-Sep-20 44 Orthopaedic And Medical Institute (Pvt) Limited Right Issue 22-Sep-20 45 Indus Wind Energy Limited Right Issue 23-Sep-20 46 Gul Ahmed Electric Limited Right Issue 28-Sep-20 47 Advans Pakistan Microfinance Bank Limited Right Issue 30-Sep-20 48 Mandviwalla Mauser Plastic Industries Limited Further Issue (Without Right Offer) 19-Sep-20 49 Indus Wind Energy Limited Right Issue 5-Oct-20

50 Interloop Holdings (Private) Limited Right Issue 13-Oct-20 51 Askari Life Assurance Company Limited Right Issue 24-Nov-20 52 Tpl Life Insurance Ltd Right Issue 25-Nov-20 53 Hinopak Motors Limited Right Issue 10-Dec-20 54 1link (Private) Limited Right Issue 17-Dec-20 55 Synthetic Products Enterprises Limited Right Issue 23-Dec-20 56 Lucky Electric Power Company Limited Right Issue 24-Dec-20

57 Nadeem Textile Mills Limited Further Issue (Other Than Right) 28-Dec-20 58 Hbl Asset Management Limited Right Issue 28-Dec-20

CREDIT OF UNPAID RIGHTS S. No. Security Name Apply Date

1 Pakistan Refinery Limited 4-Jun-20

2 Unity Foods Limited - LoR 3-Aug-20

3 Power Cement Limited-loR 3-Aug-20

4 Askari Life Asurance Company Limited - LoR 1-Oct-20

5 Hinopak Motors Limited - LoR 19-Oct-20

6 Synthetic Products Enterprises Limited - LoR 2-Nov-20

7 Fauji Fertilizer Bin Qasim Limited - LoR 23-Nov-20

8 The Searle Company Limited - LoR 26-Nov-20

9 The Searle Company Limited - LoR (2nd Tranche) 30-Nov-20

10 Ghani Global Holdings Limited - LoR 1-Dec-20

11 Mitchell's Fruit Farms Limited - LoR 1-Dec-20

12 BRR Guardian Modaraba - LoR 24-Dec-20

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CREDIT OF BONUS ISSUE

S.No. Security Name % Of Bonus Declared Apply Date

1 Biafo Industries Limited B@10% 6-apr-20

2 Clover Pakistan Limited IB@25% 20-apr-20

3 Tariq Glass Industries Ltd B@50% 20-apr-20

4 Company Limited B@10% 21-apr-20

5 The United Insurance Company of Pakistan Limited B@13% 11-may-20

6 Pakistan Oxygen Limited B@20% 18-may-20

7 Jubilee General Insurance Company Limited B@10% 20-may-20

8 Highnoon Laboratories Limited B@10% 5-jun-20

9 Cyan Limited B@05% 12-jun-20

10 Avanceon Limited B@10% 22-jun-20

11 Atlas Insurance Limited B@10% 25-jun-20

12 NBP Exchange Company Limited [email protected]% 3-jul-20

13 Service Industries Limited B@25% 10-aug-20

14 Meezan Bank Limited B@10% 25-sep-20

15 Colgate-palmolive (Pakistan) Limited B@10% 21-oct-20

16 Sazgar Engineering Works Limited B@30% 5-nov-20

17 Orix Leasing Pakistan Limited B@05% 5-nov-20

18 Descon Oxychem Limited B@16% 10-nov-20

19 Ferozsons Laboratories Limited B@20% 12-nov-20

20 Century Paper & Board Mills Limited B@20% 12-nov-20

21 B@25% 16-nov-20

22 Biafo Industries Limited B@10% 18-nov-20

23 Central Depository Company of Pakistan Limited B@25% 18-nov-20

24 Suraj Cotton Mills Limited B@10% 18-nov-20

25 First Udl Modaraba B@10% 19-nov-20

26 Central Depository Company of Pakistan Limited (2nd Tranche) 20-nov-20

27 Ashfaq Textile Mills Limited B@10% 20-nov-20

28 J. K. Spinning Mills Limited B@40% 23-nov-20

29 AT-Tahur Limited B@10% 26-nov-20

30 East West Insurance Company Limited B@15% 29-dec-20

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DETAIL OF CHANGE OF R/TA (LISTED & UNLISTED) S. No. Security Name From To Effective Date

1 Idrees Textile Mills Limited NI Associates Pvt Limited Jwaffs Registrar Services (Private) Limited 21-May-20

2 Limited CDC Share Registrar Services FD Registrar Services Pvt Limited 23-Jul-20

3 Bunnys Limited Your Secretary (Private) Limited FD Registrar Services Pvt Limited 27-Jul-20

4 First Pak Modaraba FD Registrar Services Pvt Limited THK Associates Limited 30-Jul-20

5 Quetta Textile Mills Limited Najeeb Consultants (Pvt) C & K Management Limited Associates Pvt Limied 21-Aug-20

6 Olympia Mills Limited Najeeb Consultants (Pvt) C & K Management Limited Associates Pvt Limied 21-Aug-20

7 Ijara Capital Partners Limited CDC Share Registrar Services Ijara Capital Limited Partners Limited 10-Nov-20

8 1Link (Private) Limited 1link (Private) Limited CDC Share Registrar Services Limited 1-Dec-20

9 Pak Leather Crafts Limited Pak Leather Crafts Limited Jwaffs Registrar Services (Private Limited 28-Dec-20

10 Pakistan Oilfields Limited Pakistan Oilfields Limited CDC Share Registrar Services Limited 28-Dec-20

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PSX AND CDS SUMMARY AS OF DECEMBER 31, 2020 1 Listed Companies at PSX 531 2 Listed Capital at PSX (in Billion) 1421.09 3 Number of Shares in the CDS (in Billion) 155.36 4 Units of Open-End funds in CDS (in Million) 399.81 5 Units of TFCs, Sukuks and Bonds in CDS (in Million) 131.35 6 Market Capitalization in PSX (in Billion) 8035.36 7 Market Capitalization of shares in CDS (in Billion) 5,412.39 8 Percentage of shares in CDS w.r.t. Share Capital* 88.41% *Excluding GoP holding

SHARES TRADED AT PSX DURING LAST 6 MONTHS TURNOVER OF SHARES MARKET CAPITALIZATION MONTH CLOSING READY FUTURE CONTRACT (RS. IN MILLION) (NO. IN MILLION) (NO. IN MILLION) July 8,923.18 2,353.90 7,294,276.09 August 10,581.67 2,478.25 7,650,369.99 September 13,650.74 3,188.04 7,643,098.97 October 8,635.92 2,995.63 7,399,629.18 November 6,533.65 2,374.39 7,553,511.27 December 11,516.89 3,365.96 8,035,363.50

PSX 100 INDEX DURING LAST 6 MONTHS

44,000 43,755 43,500 43,000 42,500 42,000 41,500 41,111 41,000 40,571 40,500 41,069 40,000 39,500 39,258 39,888 39,000 July August September October November December

20