Karachi: In accordance with Clause (xxiii) of the Listing Regulation No. 35 under Code of Corporate Governance, we are pleased to convey the following information:
The Board of Directors of BankIslami Modaraba Investments Limited {Management Company of Modaraba Al Mali(MODAM)} in its meeting held on 6th July 2011 has constituted a Committee to evaluate the possibility to spin off Maintenance / Refueling Business of Modaraba Al Mali into a new Modaraba, subject to the necessary approval of internal and regulatory authorities.
For more information, contact:
Syed Ahmed Asim
CFO and Company Secretary
Modaraba Al Mali
10th Floor, Progressive Square,
Opp. Nursery, Shahrah-e-Feisal,
Karachi, Pakistan.
Tel: +9221 34547521-5
Fax: +9221 34547526
Website: www.modarabaalmali.com