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 27, 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 27, 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 27, 2011. We once again inform you that Dewan Muhammad Yousuf Farooqui, Dewan Abdul Rehman Farooqui, Mr. Haroon Iqbal, Mr. Mansur-ul-Haque, Mr. Ishtiaq Ahmed, Mr. Aziz-ul-Haque and Syed Muhammad Anwar have been elected 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:
Syed Muhammad Salahuddin
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136