CT ETC ee Shaping Tomorrow April 1, 2016 ‘Mr, Yaser Manzoor Director / Head of Department (SSED) Securities Market Division Securities & Exchange Commission of Pakistan NIC Building, 63-Jinnah Avenue, ISLAMABAD. CUIN # 0062765 RE: ‘TRADING VOLUME AND PRICE OF ISL This refers to your letter No.SMD/SSED/ISL/256/2016/41 14-15-16 dated March 30, 2016. We would like to inform you of the following; On March 5, 2016 Minister of State and Chairman Board of Investment Dr. Miftah Ismail formally inaugurated ISL’s capacity expansion at its state-of-the-art steel complex in Karachi. ‘The Rs.3.2 billion expansion increased ISL’s production capacity to over 500,000 MT of which 400,000 MT can be galvanized. A number of notable dignitaries attended the event including a delegation of Sumitomo Corporation-Japan, JFE Steel-Japan and Counsel Generals of Japan and Germany. The print media covered the event and reported in their publication of March 8, 2016. Press clippings of Business Recorder and DAWN are enclosed for your reference. In addition, the National Tariff Commission of Pakistan issued public notices to initiate investigations against the dumping of Galvanized Coils and Cold Rolled Coils from China Ukraine. As a result of preliminary investigation antidumping duty @ 8.31% to 19.04% was imposed on the import of Cold Rolled Coils from China & Ukraine. This decision is being considered a positive signal for local steel industry (Copies of notices by National Tariff Commission are enclosed) As per our understanding of the Clause 5.19.15 and Section 101(4) of the Securities Act, 2015, we reported following purchase(s) of shares by ISL’s director and chief executive in the stock market and statutory returns were filed with the Securities & Exchange Commission of Pakistan: Date a Designation _No. of Shares Rate/Share (08-02-2016 Mr. Mustapha A. Chinoy Director 5,000 5.16 21-03-2016 Z i 82,000 27.26 22-03-2016 a a i 152,000 27.05 3-2016 e P 1,000 27.21 28-03-2016 7 « sat 376,000 28.72 29-03-2016 Mr. Yousuf H. Mirza Director & CEO 17,000 29.99 Cont'd...P/2 @z) Oz Head Otfice: 101 Beaumont Plaza, 10 Beaumont Road, Karachi-75530, Pakistan Phone: +9221 111-019-019 Fax’ +9221 9568-0373 E-mail info@isl.com.pk Website: vww.isl.com.pkNET TT) Shaping Tomorrow oy -2- Further, Mr. Samir M. Chinoy, a member of sponsoring family and who is an employee of the ISL bought ~4,600,000= shares as detailed in Annexure-L According to Section 101(2) of the Securities Act, 2015 a director, executive officer or substantial shareholder of a listed company shall give notice in writing to the company in the case of any change in his beneficial ownership of the company. According to Section 101(4) of the said Act, the term “executive officer” includes but not limited to the chief executive, chairman, chief financial officer, secretary, auditor or any other officer of the company as may be prescribed by the Commission. ‘As stated above, we have duly reported the change in beneficial ownership of our Director and Chief Executive. According to our understanding, Mr. Samir Chinoy did not fall in the definition of “Executive Officer”, as such the change in his beneficial ownership was not reported. Beside above development, “International Steels Limited (ISL) and its management is not aware of any other development. Apparently the market forces of demand and supply causes the volatility: We understand that proper compliance was made in accordance with the Pakistan Stock Exchange Rules and Securities Act, 2015. However, in case our understanding was incorrect then we would request you to kindly condone our lack of understanding. Thanking you, Yours faithfully, For INTERNATIONAL STEELS LTD., fe I, fe YASIR ALI QURAISHI Company Secretary 102102 Head Oifice: 101 Beaumont Plaza, 10 Beaumont Road, Karachi-75530, Pakistan Phone: 492.21 111-019-019 Fax: +9221 3668-0373 E-mail: info@isl.com.pk Website: www.is.com.pkANNEXURE - I SAMIR MUSTAPHA CHINOY PURCHASE DETAILS OF ISL SHARES . [RATE PER] CHANGE NO. OF SHARES | “Cuare | INRATE 40,000 25.22 62,500 25.18 -0.16%| 12-02-2016 78,000 25.10 0.34%| 15-02-2016 79,500 25.10 -0.02%| 16-02-2016 235,500 25.06 0.17% 17-02-2016 90,000 25.06 -0.02%| 18-02-2016 104,000, 25.06 0.02%| 19-02-2016 93,000 25.06 0.01%| 22-02-2016 158,000 25.07, -0.04%| 23-02-2016 363,000 24.97 0.40%| 24-02-2016 106,500 25.06 -0.38%| 25-02-2016 51,000 25.07 -0.04%| 26-02-2016 81,000 25.00 0.28% 29-02-2016 9,500 25.08 -0.31%| 02-03-2016 200,500, 25.06 0.06% 03-03-2016 25,000 25.07 -0.03%| (04-03-2016 49,500 25.07 0.00% (07-03-2016 50,500 25.06 0.02% (09-03-2016 26,000 25.17 -0.43%| 10-03-2016 918,000 26.57, -5.55%| 11-03-2016 279,000 27.05 =1.82%| 14-03-2016 94,500 26.68 1.38%) 15-03-2016 1,382,000 26.78 0.37%) 18-03-2016 23,500 26.65 0.49% Total 4,600,000onlay. Asian stoo ets in mainland Chi ‘Ooms Lining for jclear Security ium term, it is fe by tightening panies in China. fread tough cou iT companies in faced significant ust i the after Snowdents revel neve after the US “3 China of com Pisco and Apple om some gover nt Lists Tost year an Chamber of reported in ightech and Industries feel less hen in prige years increasingly chal Dairy Dann - cs wore med after Bejing cut ra ning while Hong Kong's UAE says oil price forcing producers to freeze output ABUDHABE: The United Arab. Emirates’ eneray minister said on Monday ‘current, low oil prices are forcing many producers to ireeze output Put that 3 correction in prices would take time (Opec leader Saudi Arabia and non-Opec producer Russia, the world’s two lars atl exporters, agreed last month t0 freeze output at Tamuary fevels t© Prop. UD Drees, if other nations Rerecato join the first elobal ool pact in 15 years “ff believe that the cur rent oil prices are forcing Crergone to. freeze so T think iis happening as we Speak. It dosn't make any therease production at the turrent prices,” Suhail bin Mohammed. alMazrouel fold reporters: he maiority of the | \ 08-03-16 BUSINESS ll CORPORATE WATCH G {SSGC reported As3.8bn loss in FY14 KARACHI: Sui Southem Gas Company Lid {S8GC) reported results for FY13 and FY14 on Monday. “The ulity’s bottor-ine deteriorated over the years as profit-ftertax dropped 90 per cent year-on-year 10 8248 milion (eamings per share Rs0.3) in FY13, ‘nhereas ft reported a loss of Fis3.8 billion (loss per share R4.3) in FY14. “The company's top-line grew at a rate of 4.4p¢ over the three-year period, but rising cost of goods sold and finance cost weighed on earnings. Sales for FY13 and FY14 stood at Rs abn and Fist77bn. "The company stated: "As described in unconsolidated financial statements, trade debts include receivables of Fis4.Gm for FY14 and Reda 33m for FY13 from K-Electric and Rist6.9m and flet2.7m for the same period from Pakistan Stee! Corp." —Eauities Correspondent IFC wins award from Infrastructure Journal ISLAMABAD: International Finance Corporation, ‘a member of the World Bank Group, has won an award from Infrastructure Journal magazine, a leading sector publication, for aranging $122 millon in debt financing for anew hydropower plant in Pakistan, said a press release on Monday. “The project invalves the construction and operation of ‘a hycro plant on the Poonch River, which is expected to help ease cripping power shortages and meet demand {for over 430,000 individual residential customers. a ‘expansion KARACHI: Intemational Steels Ltd (ISL) jnaugurated its capacity expansion at its plant on ‘March 5, 2016. The Fis3.2 billion expansion of ts state-of-the-art complex comprised conversion of the ‘compact cold ring mill (CCM) to a twin-stand reversing mil, adding a second galvanising line and the installation and commissioning of the first Colour Coating stool plant the country, said a press release. ‘The ISL production capacity increased to 500,000 ‘tonnes. Facebook puts workplace social networks on notice NEW YORK: Facebook is hoping to win new corporate frends, Mark. Zackerbera’ $300 billion social-network ng ian isrolling outa sepa trate platform for businesses Informed by what it has earned from its LGbn meny bors Microsofts Yammer, hip, messaging, provider Slack Technol tains its own storage in case fegulators come looking for past communigus. “There's an interesting com pation. For years, BlackBerry had a lock on the business, world because it Claimed ite devices were mare Secure than Apples iPhones. But it proved only a matter of Qefore corporate 110 ment deyartmentsither ill fice sed nal al and cited nperthe SSAL urges govt to resolve water issue RECORDER REPORT KARACHI: President of Site Superhighway ssociation af Industry (SSA, Mektab Llddin Chawla hhas urged Governor Sindh Dr_” KARACHI: tn ermen ving fo Wagsh ber afer hr lose fo Mali Ishratul tbad Khan and Chief Minister Syed Qaim Ali Shah ies Intistels Lid = “Gre Souioaaeeeve expands production _ legislation to scones be seer to over 500,000MT vise tata to keep their unis oper- He further said tht the Site Superhighway industries are not geting water fiom KWSB since long and the only source (of Matiari and other disitits of water was tankers, adding < | joined a rally to mark that now the industrial estate is A International Women Day facing a doughtsike situation. The rally organised by Sindh He lamented that strong Community | Foundation ryeies ate mata etuliee (SCF whieh atracted women Ri ciamgucras tame workers, mostly cotton pickers und eharging exaianteakes and thoxe work in agrietore yaaelvng vale secior. The rally was He claimed that a large num: ber of unis including export ariented ones have been shut down owing to water seacity and several others are at the elosure RECORDER REPORT HYDERABAD: Is umber of female agriculture workers from diferent vill setivists Punhal Saro of Sin = Hari Porhyar Council -SHPC ARACHI: International meats of 340,000 gallons of Javed Hussain of Sindh Steels Limited (ISL) inaugurated. industrial waters taken from the Community Foundation. "Dr its capacity expansion ats tte- subsoil and filtered rather than Ashothama of Haman Regi ‘of-the-art steel complex in further taxing the overloaded Commission of Pakistan Bilawal rach on Mare water supply system of the ely, Ravag Unrani of 1ANDS The Rs 3.2 billion expansion This exparson wil alow added Reena of SPARC. and Parcel condemns increased ISL.'s production impetus and confidence to the Chana of Green Work g a capacity 0 over SOO.000MT of downstream engineering and Fourdation, Shabqadar blasts ficn4oao00s11 can be gala-_consinction sector, and has also Cotton 1s one of the major KARACHI: Bilawal Bhune "ized resulted in ISL being able to eash erops of Sindh province Zardatt Chairuan Pakistan Theexpansion comprised con- meet 100 percent of the coated and worten lave more Wo sy © Peoples Party (PPP) has con. YeFting ils state-of-the-art. stel demandofthe county. about their wages demmned the bomb blest in cour Compact Cold Rolling Mill Minister of State and Participants demanded {1 building in Shabgadar's Khyber: (CCM) toa tin stand reversing Chainnan Board of Investment pro-women levislation with Pakhtunkhwa province, which ill, adding a second DrMiflah smal inaugurated the recognition of iforinal laos resulted jn loss of precious Ives Galvanizing line and the suc- complex, A number of notable inte policy to protect their of innocent citizens on Monday. cesful instalation and commis- dignitaries attended the event social safety net and increase Ina press statement issued sioning of the first Colour including a delegation of over 13. wages and for social and ccm here, Bilal Fut Zadar ssid Costing Siel Plant inthe coun members from. Sumitomo namic protectin, that lerrists were targeting the |) Corporation ard JFE ste! Japan, = Pakistan's most important innocent and peaceful citizens The factory is flly compliant Other notables included the industrial and export sector and attempting to Trighten the 0 the National Environment Counsel Generals of Japan and textile and clothing (F&C) peopie—NNI (Quality Standards. Deilyrequie- Germany—PR. Industry rely on these wore! 7 ‘h coon in scorching est. Couple killed for ‘honour’ “2i"""".. KARACHI: A newly-wed in the name of honour. Empty formalities from Abbasi growth, they remain poor and Recorder that the vietims, iden- house in Orangi No 10 Janghal to apprehend the culprits environment that involves Busgi nes Coccotn et 68-03-16ADC No. 35/2015/NTC/CRC Government of Pakistan National Tariff Commission Notice of Preliminary Deter n Anti-dumping Investigation against Dumped Imports of Cold Rolled Coils/Sheets into Pakistan Originating in and/or Exported from the Peoples’ Republic of China and Ukraine ‘The National Tariff Commission (the “Commission”) initiated an anti-dumping investigation on July 16, 2015, under Section 23 of the Anti-Dumping Duties Ordinance, 2015 (now enacted as Anti-Dumping Duties Act, 2015) after establishing that the application lodged by Aisha Steel Mills Limited Karachi (the “Applicant”), on behalf of domestic industry producing Cold Rolled Coils/Sheets (“CR Coils/Sheets”) was in accordance with Section 20 and 24 of the Ordinance. The investigation concerns dumping of CR Coils/Sheets, originating in and/or exported from the People’s Republic of China and Ukraine (the “Exporting Countries”) into Pakistan and material injury caused therefrom to the domestic industry producing CR Coils/Sheets. In accordance with provisions of the Anti-Dumping Duties Act, 2015 (the “Act”) and AntiDumping Duties Rules, 2001 (the “Rules”, the Commission has, after investigation, determined the following on preliminary basis Product under Investigation: The product being dumped into Pakistan is Cold Rolled Coils /Sheets of: primary and secondary quality with a thickness of 0,15-2.50 mm and width of above 600 mm originating in and/or exported from the Exporting Countries and is classified under Pakistan Customs Tariff Heading Nos. 7209.1690, 7209.1750, 7209.1890, 7209.1610, 7209.1710, 7209.1810, 7209.2690, 7209.2790, 7209.28, 72092610, 7209.2710 and 7209.2810 (the “investigated product”) Period of Investigation (PON): For determination of dumping and injury, the POL is as follows: For determination of dumping: From April 1, 2014 to March 31, 2015 For determination of injury’ From April 1, 2012 to March 31, 2015 Determination of Dumping: Individual dumping margins in this preliminary determination are determined for producers of the investigated product from the Exporting Countries on the basis of the information provided by them. However, residual dumping margins/duty rates for non- cooperating, exporters/ producers have been determined as the highest dumping margin of the exporter producer of the respective country. Injury to the domestic industry: Injury to the domestic industry has been determined in accordance with Part VI of the Act. The Commission has on preliminary basis established that the domestic industry suffered material injury on account of increase in volume of dumped imports, price undercutting, price depression, price suppression, decline in market share, profits, sales, capacity utilization, return on investment, and negative effect on cash flow, inventories and ability to raise capital. The Commission has also examined factors other than dumped imports under Section 18(2) and Section 18 (3) of the Act, which could at the same time cause injury to the domestic industry. Analysis showed that the domestic industry has not been suffered material injury due to others factors. Imposition of Provisional Anti-Dumping Duty: In reaching this preliminary determination, the Commission is satisfied that the investigated product has been imported from the Exporting Countries at dumped prices, However, for the purpose of imposition of lesser duty in terms of Section 43 (1) of the Act, the Commission has calculated injury margin to ascertain whether a lower duty would be adequate to remove injury being suffered by the domestic industry due to dumped imports of investigated product from the Exporting Countries. In order to prevent material injury during the course of this investigation, the Commission, pursuant to the powers conferred upon it under Section 43 of the Act, has decided to impose provisional anti-dumping duty at the rates Page of2mentioned below on C&P value in ad val, terms on imports of CR Coils /Sheets importable from the Exporting Countries for a period of four months effective from the date of publication of notice in the press, on the following exporters/ producers, however, it would not be levied in terms of Section 51(1) e of the Act on imports that are to be used as inputs in products destined solely for exports: Provisional Country/Exporter/Foreign Producer Antidumping Duty Rate (%) China Shougang Casey Steel Company Limited 19.04 Shougang Jingtang United Iron & Stee! Co. Limited 15.8 Beijing Shougang Cold Rolling Company Limited 12.02, Handan [ron & Steel Group Han-Bao Co. Limited 831 Maanshan [ron & Steel Company Limited 17.69) Allothers. 19.04 Ukraine Zaporizhstal Integrated Iron-and-Steel Works 1892, Ilyich Iron and Steel Works of Mariupol 19.04 Allothers 19.04 Hearing: Any party registered as an interested party in this case may, if it so wishes, request a hearing in accordance with Rule 14 of the Rules within 30 days of the publication of this notice by contacting Secretary, National Tariff Commission, State Life Building No.5, Blue Area, Islamabad. ‘Telephone No. +92-51-9202839, Fax No.+92-51-9221208. Authority under Law: This notice is published pursuant to Section 37 of the Act by order of the Commission. (Muhammad Shahid) Secretary January 13, 2016 Page Del?ADC No. 37/2018/NTC/GC National Tariff Commission Government of Pakistan Notice of Initiation of Anti-dumping Invest ‘Sheets into riginating in jon against Alleged Dumping of Galvanized Coils and d from the People’s Republic of China National Tariff Commission (the “Commission”) has received an application under Section 20 of the Anti- Dumping Duties Ordinance, 2015 (the “Ordinance”) on June 29, 2013 from M/s International Steels Limited, Karachi (the “Applicant”), The Applicant is a producer of galvanized coils and sheets and has alleged that galvanized coils and sheets are being exported to Pakistan at dumped prices from the People's Republic of China (China). It is further alleged that the import of galvanized coils and sheets from China has caused and is threatening to cause material injury to the domestic industry. Upon initial examination and assessing accuracy of the evidence and information in accordance with Section 23 of the Ordinance, the Commission is satisfied that the evidence and information provided in application are sufficient to justify initiation of an investigation into the matter. ion of Investigation: ‘The Commission hereby initiates an investigation under Section 23 of the Ordinance. The investigation will determine whether galvanized coils and sheets originating in and/or exported from China are being dumped into Pakistan and whether such dumping has caused or is threatening 10 cause material injury to the domestic industry of galvanized/sheets. The Commission will, during the course of this investigation, cal for any information/data deemed necessary for the purposes of this investigation. Product under Investigation: The investigated product is galvanized coils and shects imported into Pakistan from China. It is classified under Pakistan Customs Tariff (PCT) Heading Nos. 7210.4110, 7210.4190, 7210-4990, 7212.3010, 7212.3090, 725.9200 and 7226,9900. Investigated product is mainly used for construction, home appliances, packing/drums, telecom towers, agriculture appliances, furniture & tures, billboards, sign-boards, hoardings, road signs and others. Period of Investigation (“POI”): For determination of dumping: From July 01, 2014 to June 30, 2015 For determination of injury From July 01, 2012 to June 30, 2015 Interested Parties: Interested parties, as defined in Section 2(k) of the Ordinance, are requested to make themselves known to the Secretary, National Tariff Commission, State Life Building No. 5, Blue Area, Islamabad, Tel: +9251-9202839 Fax: +9251-9221205 not later than 10 days after the publication of this notice, An interested party applying for registration with the Commission in this investigation should submit: the name ‘ofthe company, its line of business, name of authorized person, address, telephone number and fax number. ‘Al interested parties are further invited to make their views/comments known to the Commission, and to submit information and documents (if any) not later than 4S days of the date of publication of this notice in the press in Pakistan, Date of initiation of investigation: The date of publication of this notice in the newspapers in Pakistan Date of preliminary determination: Not earlier than 60 days and not later than 180 days from the date of initiation ofthe investigation. Date of final determination: Within 180 days of the preliminary determination, Hearing: Hearing shall be held not later than 60 days prior to the proposed date of final determination, upon request, if any, made within 30 days of the publication of notice of initiation. Further Information: For further information please contact Director (Investigation-II1), Tel: +9251- 9218961, Fax: +9251-9221205. General information may also be obtained by accessing the Commission's official website wntegov.pk By order of the Commission. (Muhammad Shahid) Secretary ‘August 11, 2015A.D. No. 35/2015/NTC/CRC ‘National Tariff Commission Government of Pakistan Notice of Initiation of Antidumping Investigation against Alleged Dumping of Colled Rolled Coils/Sheets into Pakistan Originating in and/or Exported from China and Ukraii ‘The National Tariff Commission (the “Commission”) received an antidumping application under Section 20 of the Antidumping Duties Ordinance, 2015 (the "Ordinance”) on June 11, 2015 from Aisha Steel Mills Limited, Karachi, Pakistan, (the “Applicant”), a domestic producer of Cold Rolled Coils/Sheets (the “domestic like product”) alleging that Cold Rolled Coils/Sheets are being exported to Pakistan at dumped prices from the People’s Republic of China and Ukraine (hereinafter collectively referred to as “Exporting Countries”), which have caused and are causing material injury to the domestic industry producing like product. Product under Investigation The product allegedly being dumped into Pakistan is Cold Rolled Coils/Sheets (originating in and/or exported from the Exporting Countries and is classified under Pakistan Customs Tariff classification numbers. Nos. 7209.1690, 7209.1790, 7209.1890, 7209.1610, 7209.1710, 7209.1810, 7209.2690, 7209.2790, 7209.2890, 7209.2610, 7209.2710 and 7209.2810 (the “investigated product’). The investigated product is used in the manufacturing of Auto Skin Parts, Auto Sub Assembly/Inner Body Parts, Fabricated Goods like Doors, Cabinets Drums, Tin plates etc., Pipes, Tubes and Refrigerators, Washing Machines, Geysers and Ovens, Application The Applicant has alleged dumping of the investigated product into Pakistan by the exporters from the Exporting Countries. It is further alleged that the imports of investigated product in Pakistan has caused and is causing material injury to the domestic industry, mainly, by way of: volume of dumped imports, price undercutting, price depression, inventories, profitability, return of investment, market share, capacity utilization, ability to raise capital and magnitude of dumping margin. Initiation of Investigation ‘The Commission hereby initiates an investigation pursuant to Section 23 of the Ordinance 2015. The investigation will determine whether the investigated product originating in and/or exported from the Exporting Countries is being dumped into Pakistan and whether such dumping has caused and /or is causing material injury to the domestic industry and if there is threat of material injury to the domestic industry. The Commission may also, during the course of this investigation, call for any further information/ data deemed necessary for the purposes of this investigation. m (POD For determination of dumping and injury, the POI is as follows: For determination of dumpin; From April 01, 2014, to March 31, 2015, For determination of material injury: From April 01, 2012 to March 31, 2015 Page of?Investigation Schedule Date of initiation of investigation: The date of publication of this notice in the press in Pakistan Date of preliminary Not earlier than 60 days and not later than 180 days determination from the date of initiation of the investigation Date of final determination: Within 180 days of the date of publication of notice of preliminary determination in the press in Pakistan Interested Parties Interested parties, as defined in Section 24) of the Ordinance, are requested to identify themselves to the Secretary, National Tariff Commission, State Life Building No. 5, Blue Area, Islamabad, Tel: +9251-9202839 Fax: +9251-9221205 not later than 10 days after the publication of this notice. An interested party applying for registration with the ‘Commission in this investigation should submit; the name of the company, its line of business, name of authorized person, address, telephone number and fax number. All interested parties are invited to make their views/comments known to the Commission, and to submit information and documents (if any) not later than 45 days of the date of publication of this notice in the press in Pakistan. All data and information regarding this investigation should be submitted to the Secretary of the Commission. Public File In accordance with Rule 7 of the Antidumping Duties Rules, 2001, the Commission has established and shall maintain a public file at its offices, which shall be available to interested parties for review and copying from Monday to Thursday between 1100 hours to 1300 hours (except public holidays) throughout the investigation. Further Information For further information please contact, Director, National Tariff Commission, Tel: +9251- 9218963, Fax: +9251-9221205. General information may also be obtained by accessing the Commission's official website www nte.gov.pk. By order of the Commission, (Muhammad Shahid) Secretary, NIC July 16, 2015