Karachi, May 18, 2012 (PPI-OT): With reference to our letter dated October 27, 2011 regarding announcement of the Directors elected in Annual General Meeting held on October 26, 2011. It is pertinent to mentioned here that the interim injunction obtained by our ex directors Dewan Asim Mushtaq Farooqui and Dewan Abdullah Ahmed has been lapsed/expired.
We have filled statement before the Honorable High Court of Sindh regarding implementation of the decision of the Annual General Meeting dated October 26, 2011. (Copy of the statement is enclosed for your record).
Therefore, there is no obstruction / implement for the announcement of the Directors elected in the Annual General Meeting held on October 26, 2011. We once again inform you that Dewan Muhammad Yousuf Farooqui, Dewan Abdul Rehman Farooqui, Mr. Haroon Iqbal, Mr. Waseem-ul-Haque Ansari, Mr. Ishtiaq Ahmed, Mr. Aziz-ul-Haque and Mrs. Hina Yousuf have been appointed as the Directors of the Company pursuant to section 178 of the Companies Ordinance, 1984 (“the Ordinance”). The new appointments have taken place on, and are thus effective with immediate effect.
For more information, Contact:
Muhammad Naeemuddin Malik
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136