Monday, December 17, 2007

Callmate hits back-to-back ceilings

KARACHI: The scrip of Callmate Telips continued to enjoy the upper lock last week. This is indicative of the substantial confidence of the shareholders on the new management of Callmate. Buyers are demanding 4.7 million shares but at current prices, they are reluctant to sell out. This move signifies that shareholders are waiting for share prices to meet buyers' purchase value.
Some positive developments have also taken place in the Callmate as a result of the meeting amongst Callmate's Chairman Audit Committee Saleem Shahzad, Chairman Muhammad Jawaid Iqbal, Senior executive vice president (SEVP) & Group Chief and Junaid Alam, Regional Corporate Head-Karachi, Allied Bank who is a major creditor of the company and has rescheduled its loan of Rs: 250 million.
The shareholders have greatly appreciated this professional and progressive measure of ABP. On the other hand, the Chief Executive Officer Asif Shehzad and Director Syed Usman Haroon had a constructive meeting with the officials of PTCL in Islamabad whereby the PTCL has agreed to facilitate Callmate to restart its business and asked the Company to submit viable proposals for the mutual benefits of PTCL and Callmate.

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