Siemens (Pakistan) Engineering Company Limited’s board meeting and resignation of CEO

Karachi: This is further to our letter FC E OT/204-11 dated July 25, 2011 in which had informed you that unaudited financial results of Siemens (Pakistan) Engineering Company Limited (SIEM) (the Company) for the nine months period ended June 30, 2011 shall be conveyed to you on July 29, 2011.

We would like to inform that the said financial results could not be considered by the Board in its meeting dated July 28, 2011 held in Munich, Germany, due to paucity of time. The Board is scheduled to meet on 4th August, 2011 to approve the financial results.

We would also like to inform that the CEO and MD of the Company Mr. Sohail Wajahat H. Siddiqui has resigned from his office as CEO and Director of the company which the Board has accepted effective July 31, 2011.

For more information, Contact:
Munaza Abbas
Chief Financial Officer
Siemens (Pakistan) Engineering Company Limited
B-72, Estate Avenue, SITE,
Tel: 92 (21)- 3269 2061
Mobile: 0322 – 2224960