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Gharibwal Cement Limited’s change in remuneration of CEO and director (under section 218)

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by September 11, 2013 Miscellaneous

Karachi, September 11, 2013 (PPI-OT): This is to inform you that BOD’s has revised the terms of conditions of employment of Mr. Muhammad Tousif peracha (CEO) and Mr. A. Rafique Khan (Director) and following is decided unanimously:

Company is hereby authorized to pay Rs. 1.0 million per month to Mr. Muhammad Tousif Peracha (Chairman/ CEO) and Rs. 0.5 million per month to Mr. A. Rafique Khan (Director) as remuneration w.e.f. July 01, 2013.

Further Resolved that this remuneration shall be subject to such increments, other allowances and applicable benefits, bonuses, adjustments and other entitlements/ perquisites as may be granted at any time and from time to time by the Board of Directors of the Company and/ or in accordance with the policies of the Company.

Previously, no remuneration was paid to them and this information is provided as required under section 218 of Companies Ordinance, 1984 and no other director is interested in this business except Mr. Muhammad Tausif Peracha (Chairman/ CEO) and Mr. A. Rafique Khan (Director) to the extent of above business only.

For more information, contact:
Muhammad Shamail Javed
Company Secretary
Gharibwal Cement Limited
28- B/III, Gulberg-III, Lahore, Pakistan.
Phone: PABX 042-111-210-310 and 042-5871058,
Fax: 042-5871039 and 5871059

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