Universal Network : Half Yearly Progress Report on Utilization of IPO proceeds as of June 06, 2023
June 20, 2023 at 02:41 am EDT
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The General Manager
June 20, 2023
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Subject: Half Yearly Progress Report on Utilization of IPO proceeds as of June 06, 2023
Dear Sir,
S.No.
Description
Utilization Plan as per
Actual Utilization as at
Actual Utilization as at Actual Utilization as at
Information
06-06-22
06-12-22
06-06-23
Memorandum(PKR)
1
Development in Technology Segment
95,760,000
75,429,489
85,429,489
90,429,489
2
Expansion of Out-Reach Network
144,945,000
81,102,103
111,984,655
127,425,931
3
Expansion of E-Commerce Solutions
165,000,000
69,495,026
79,426,198
103,891,784
4
Working Capital
40,000,000
18,343,242
26,523,413
37,613,499
Total
445,705,000
244,369,860
303,363,755
359,360,703
Utilization %
55%
68%
81%
Un-utilized Portion
201,335,140
142,341,245
86,344,298
There has been no deviation from the purpose or use of proceeds earlier disclosed to the members. You may please inform the TRE certificate Holders of the Exchange, accordingly.
Best Regards,
Ahsan Iqbal
Company Secretary
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Universal Network Systems Ltd. published this content on 20 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2023 06:40:23 UTC.
Blue-Ex Limited, formerly Universal Network Systems Ltd, is a logistics company. The principal activities of the Company are to act as a cargo forwarder, provide domestic and international courier and allied services. The Companyâs segments include domestic courier and cargo and international freight. It offers cash on delivery services in Pakistan through BlueEX, which provides a COD network of more than 657 locations across the country. It also provides 24/7 customer support, e-commerce couriers, integration consultation and help, reverse logistics and returns, open box delivery, swap delivery, same-day delivery, real time system, customer friendly shipping app and 24/7 customer service. The Company offers services such as crowd sourcing and instant delivery, cross border logistics, hosted contact, Bluekart and benefit software platforms, outsourced technology services, core logistics, e-commerce logistics and E-Distribution with ordinary least squares regression (OLS).
BLUE-EX LIMITED 
