Punjab Oil Mills Limited’s Code of Corporate Governance – Disclosure of Interest

Karachi: Pursuant to Clause XXVI of the Code of Corporate Governance dated 28Mach 2002 issued by the Securities and Exchange Commission of Pakistan and adopted by the Karachi Stock Exchange (G) Limited as part of the Listing Regulation, the Company hereby announces the period from September 20, 2011 to September 26, 2011 (both days inclusive) as “closed period” during which Directors, Chief Executive Officer, Chief Financial Officer and Company Secretary and other Executive including their spouse and minor children are prohibited from dealing in the shares of the Company.

The aforesaid Clause further requires the above person to keep the Company Secretary informed of any sale/purchase in the shares of the Company (Punjab Oil Mills Limited) (PUNO) at any time during the year.

An extract from the aforesaid Code of Corporate Governance is attached for your perusal.

Code of Corporate Governance – Disclosure of Interest

“Where any director, CEO or Executive of a listed Company or their spouse sell, by or take arty position, whether directly or indirectly, in shares of the listed company of which he is a director, CEO or Executive as the case may be, he shall immediately notify in writing the Company Secretary of his intentions. Such director, CEO or Executive, as the ease may be, shall also delayer a written record of the price, number of shares, form of share certificates (i.e. whether physical or electronic within the Central Depository System) and nature of transaction to the Company Secretary within four days of effecting the transaction. The notice of the director, CEO or Executive, as the case may be, shall be presented by the Company Secretary at the meeting of the Board of Directors immediately subsequent to such transaction.

In the event of default by a director, CEO or executive to give a written notice or deliver a written record, the Company Secretary shall place the matter before the Board of Directors in its immediate next Meeting.

Provided that each listed company shall determine a closed period prior to the announcement of interim/final results and any business decision, which may materially affect the market price of its shares No Director, CEO or Executive shall, directly or indirectly, deal in the shares of the listed company in any manner during the closed period.

Explanation: For the purpose of this, clause, the expression “Executive” means an employee of a listed company other than the CEO and Directors whose basic salary exceeds five hundred thousand rupees in a financial year.

For more information, contact:
Muhammad Saeed Malik
Company Secretary
Punjab Oil Mills Limited
120-E/1, Gulberg – III,
Ph; 5761585-6
Fax: 5110235

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