Lotte Pakistan PTA Limited’s Appointment of Chief Executive – Information Under Section 218 of the Companies Ordinance, 1984
Karachi: Information under Section 218 of the Companies Ordinance 1984
We are pleased to inform you that upon completion of his term of office on 22 June 2011, the Board of Directors of the Company vide Resolution dated 23 June 2011 has re-appointed Mr. M. Asif Saad as the Chief Executive of the Company for a period of 3 years commencing from 23 June 2011 and ending on 22 June 2014 on the same terms and conditions.
In accordance with these terms and conditions Mr. M. Asif Saad will be entitled to a managerial remuneration of Rs 13 million per annum in addition to perquisites and other entitlements arising under his Contract of Employment with the Company and the applicable Service Rules of the Company, including the provision of transportation, medical expenses for himself, his wife and dependent children and other benefits as per Company’s policies and Service Rules.
The above remuneration shall be subject to such increments, bonuses, adjustments and other entitlements 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 and Service Rules of the Company for the time being in force.
For more information, contact:
Ali Aamir, FCA
Chief Financial Officer and
Lotte Pakistan PTA Limited
EZ/ 1 –P-4, Eastern Industrial Zone,
Port Qasim, P.O. Box 723,
Karachi – 74200,
UAN: +92-021 111 782 111
Tel: +92-021 3472 6043