Karachi: In accordance with Clause (xxiii) of the Listing Regulation No. 35 under Code of Corporate Governance, we hereby convey the information that at the meeting of Board of Directors of our Company held on Thursday March 15, 2012 at 11:00 am at 14th Floor, Chapal Plaza, Hasrat Mohani Road, Karachi, the Board of Director accepted the resignation of Mr. Saad Saeed Faruqui and appointed Syed Sajid Nasim as New Chief Executive Officer of the Company subject to approval of Security and Exchange Commission of Pakistan under Regulation 10 of Non-Banking Finance Companies and Notified Entities Regulations, 2008.
Mr. Saad Saeed Faruqui will continue to act as Chief Executive Officer of the Company till time the Security and Exchange Commission of Pakistan grants approval of Syed Sajid Nasim to be appointed as Chief Executive Officer.
For more information, contact:
Abdul Wajid Soherwardy
Capital Asset Leasing Corporation Limited
14th Floor, Chapal Plaza,
Hasrat Mohani Road,
Tel: + 92(21)3243-1181-8
Fax: + 92(21)3246-5703