Appointment of directors of KASB Securities Limited

Karachi: KASB Securities Limited informed Karachi Stock Exchange about urgent meeting of board of directors appointed Mr. Shahid Ali Khan as CEO in replace of Mr. Irfan Nadeem Sayeed with effect from June 08, 2015, and BankIslami Pakistan Limited nominated Mr. Mnasur-ur-Rehman as the Director of the company in place of Mr. Tahir Iqbal with effect from June 05, 2015. The announcement is available at KASB Securities Limited was incorporated in Pakistan on October 24, 2000 under the Companies Ordinance, 1984. The company is a subsidiary of KASB Bank Limited which acts as a parent company. The holding includes 77.12% of the shares of the group. The operations of the company were effectively commenced from January 01, 2003. The assets and liabilities of the securities segment of the then Khadim Ali Shah Bukhari and Company Limited under the scheme of arrangement approved by the High Court of Sindh. The shares of the company are listed on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi. The company has corporate membership of the Karachi Stock Exchange Limited and Pakistan Mercantile Limited. The company is principally engaged in the business of stocks, money market, foreign exchange and commodity broking. The company also invests in a mix of listed and unlisted equity and debt securities, economic research and advisory services. The subsidiary of the company is Structured Venture Limited which was incorporated in Pakistan on June 25, 2010. It is wholly owned by KASB Securities Limited. The symbol “KASBSL” is being used by the stock exchange for the shares of KASB Securities Limited.