Re-appointment of Chief Executive Officer and Chairman of Imperial Sugar Limited

Karachi, Imperial Sugar Limited informed Pakistan Stock Exchange that Mr. Waqar Ibn Zahoor Bandey and Mr. Naveed M. Sheikh have ceased to be the Chief Executive Officer and Chairman of the Company with effect from December 31, 2016 and Mr. Waqar Ibn Zahoor Bandey and Mr. Naveed M. Sheikh have been appointed as Chief Executive Officer and Chairman on January 09, 2017. Imperial Sugar Limited is a public limited company, incorporated on May 9th, 2007 to undertake Sugar and Allied businesses. The company acquired two Sugar plants and one Ethyl Alcohol (Ethanol) Distillery in the year 2007. After completion of these acquisitions and approval of the SECP and KSE, the Company was listed on Karachi Stock Exchange on August 13th, 2008. In order to recover a huge amount of Carbon Dioxide Gas (CO2) that is produced during the fermentation process of Molasses, a state of the art CO2 Recovery Plant with 48 Metric Tons/Day capacity was bought from Italy, which is currently under erection and installation process. It is worth mentioning that no distillery in Pakistan but one other than ours has the CO2 recovery system installed. Elsewhere in Pakistan, CO2 produced during fermentation process is exhausted in the atmosphere and thus wasted. The Symbol “IMSL” is being used by the stock exchange for Imperial Sugar Limited.