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Securities and Exchange Commission of Pakistan notifies committee for divestment of Pakistan Stock Exchange shares

Islamabad, March 01, 2016 (PPI-OT): The Securities and Exchange Commission of Pakistan (SECP) has constituted a “Divestment Committee” for the purposes of divestment of shares of the Pakistan Stock Exchange Limited (PSX).

The Committee comprises of the four newly elected directors of the Exchange – Mr. Abid Ali Habib, Mr. Muhammad Yasin Lakhani, Mr. Abdul Majeed Adam and Mr. Ahmed Chinoy, and renowned capital market experts having extensive experience i.e. Mr. Arif Habib, Mr. Najam Ali, Mr. Ferozuddin Cassim, Mr. Amin Issa Tai, Mr. Muhammad Sohail and Mr. Shehzad Chamdia.

The Divestment Committee has been notified in terms of requirements of the Stock Exchanges (Corporatisation, Demutualization and Integration) Regulations, 2012 and has been entrusted with ensuring completion of the divestment process within six months.

It is expected that post integration, PSX will be able to attract global strategic investors and financial institutions and form technological partnerships, to fulfil the objectives of integration, become a major regional investment hub and play its due role in the development of national economy.

For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +92-51-9214005 or +92-51-9214009 (Ext. 378)
Fax: +92-51-9206459
Cell: +92-302-8552254
E-mail: shakil.chaudhary@secp.gov.pk
Website: www.secp.gov.pk

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