Oilboy Energy : DECISION OF BOARD - STATUS OF SUBSCRIPTION OF RIGHT ISSUE

F o r m e r l y D r e k k a r K i n g s w a y L i m i t e d

July 14, 2022

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi - 74000

DECISION OF BOARD - STATUS OF SUBSCRIPTION OF RIGHT ISSUE

Dear Sir,

We are pleased to inform you that the 150% Right issue of Oilboy Energy Limited ("the Company") amounting to Rs. 150,000,000/- has been subscribed to the extent of 2.15% as of the last date of payment and acceptance of Company Shares i.e., July 05, 2022.

As per the details received from Bankers to the Issue (i.e. (1) Faysal Bank Limited (2) JS Bank Limited

1. CDS Account, the Company has received a total sum of Rs. 3,220,290 /- against right shares subscription.

The detail of subscription is as under:

	Amount in PKR	%Age
Total Issue Size	150,000,000	100.00%
Shares Subscribed	(3,220,290)	2.15%
Unsubscribed Portion	146,779,710	97.85%

In compliance of clause 8 of the Annexure - II of "Right Issue Procedure" provided in letter your letter no. PSX/C-1023-948 dated May 12, 2022, the Board of Directors in their meeting held on July 14, 2022, in pursuant to Section 83(1)(a)(iv) of the Companies Act, 2017 decided to allocate the unsubscribed portion to different individuals/companies instead of calling upon the underwriters.

You may please inform the TRE Certificate Holders of the Exchange accordingly.

Yours truly,

For Oilboy Energy Limited

__________________________

Inam Ullah Company Secretary

Cc:

1. The Director/HOD, Surveillance, Supervision and Enforcement, SMD, SECP, Islamabad
2. The Executive Director, Corporate Supervision Department, SECP, Islamabad
3. Manager Share Registrar, Digital Custodian Company 4-F Perdesi House, Old Queens Road, Karachi

Office Block: Farmhouse No. 16, Street No. 12, Chak Shahzad, Islamabad, Pakistan

[phone]

www.obel.com.pk