ISLAMABAD, Jan 21: The Lead Manager to OGDCL IPO, KASB Securities has confirmed to the Privatization Commission that the Balloter to the offer and OGDCL shares Registrar Noble Computer Services (Pvt) Ltd (NCSL) has completed the process of crediting OGDCL shares in the Central Depository Company (CDC) in the respective Central Depository System (CDS) accounts of applicants.

However, NCSL has identified a number of cases where shares were not credited to the respective CDC accounts of the applicants despite the correct account information being stated on their application forms.

Such cases included but are not limited to joint CDC account holders where one applicant (of joint CDC account) received credit whilst the remaining applicants of the same joint account did not. In order to facilitate such cases, the CDC has credited the allotted shares through a second upload process.

OGDCL shares will be issued in physical form to all such applicants where non-compliance with CDC Regulation 8.B.I (iii) was found in the respective CDS Account information (i.e. discrepancies found between CDC account information provided in the application form and the information already held by the CDC).

All such applicants will shortly be receiving a letter from NCSL informing them of the process through which they may receive/collect their allotted physical shares on payment of Rs0.14 per share.

The applicants will have to send a pay order/demand draft of the required amount to NCSL. Upon receipt and clearance of the payments, commencing January 30, 2004, the physical shares will be dispatched directly to the addresses of the applicants. Alternately, the applicants may collect them from the offices of NCSL after February 9, 2004 (Monday-Friday 10 am to 1 pm).

The applicants, who applied for physical shares through banks, can obtain them from the same branches of the banks, which have already been delivered to them since January 9, 2004.

The applications, which have been identified as multiple or fictitious have been forwarded to the Securities and Exchange Commission of Pakistan for their consideration.