Arif Habib Investments Limited’s board meeting

Karachi: This is with reference to our letter dated January 19, 2011 regarding the merger of MCB Asset Management Company Limited with and into Arif Habib Investments Limited (AHI). This is to inform you that meeting of the Board of’ Directors of the Company was held today on the effective date of merger at 12:00 p.m. at MCB House 15-Main Gulberg Lahore. The following decisions were made in the said meeting:

Reformation of the Board:

In accordance with the terms of Shareholder’s Agreement dated January 19, 2011 between MCB Bank Limited and Arif Habib Corporation Limited, following reformation of the Board of the Company has been approved by the Board of Directors subject to approval of the Securities and Exchange Commission of Pakistan. Following is composition of the new Board:

1. Mian Mohammad Mansha
2. Mr. Nasim Beg
3. Dr. Salman Shah
4. Mr. Yasir Qadri
5, Mr. Haroun Rasheed
6. Mr. Ahmed Jahangir
7. Mr. Samad A. Habib
8. Mr. Mirza Mehmood Ahmad

Appointment Chairman of the Board:

In accordance with the terms of Shareholder’s Agreement dated January 19, 2011 between MCB Bank Limited and Arif Habib Corporation Limited, Mian Mohammad Mansha has been appointed as Chairman of the Board.

Appointment of Executive Vice Chairman of the Board

In accordance with the terms of Shareholder’s Agreement dated January 19, 2011 between MCB Bank Limited and Arif Habib Corporation Limited, Mr Nasim Beg has been appointed as Executive Vice Chairman of the Board.

Appointment of Chief Executive Officer:

In accordance with the terms of Shareholder’s Agreement dated January 19, 2011 between MCB Bank Limited and Arif Habib Corporation Limited, Mr. Nasim Beg resigned as Chief Executive Officer and Mr. Yasir Qadri has been appointed by the Board as the new Chief Executive Officer of the Company, subject to approval of the Securities and Exchange Commission of Pakistan.

Change of Registered Office:

The Board has approved the change of Registered Office of Arif Habib Investments Limited from Arif Habib Centre, 23 M. T. Khan Road, Karachi to 8th Floor, Techno City Corporate Tower, Hasrat Mohani Road, Karachi.

Appointment of Chief Financial Officer and Company secretary:

Mr. Muhammad Saqib Saleem has appointed as the Chief Financial Officer and Company Secretary of the Company in place or Mr. Zeeshan, the resigning Chief Financial Officer and Company Secretary of the Company.

For more information, contact:
Muhammad Saqib Saleem
Chief Financial Officer and
Company Secretary
Arif Habib Investments Limited
Arif Habib Centre, 23 M.T. Khan Road,
Karachi-74000, Pakistan
UAN +9221 111 468 378 (Ext. 202)
Fax: +9221 324 70351
Website: www.arifhabib.com.pk

Leave a Reply