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Karachi, March 05, 2013 (PPI-OT): We would like to inform you that the Board of Directors of the Company has revised the monthly remuneration of Mr. Shahid Abdullah, Director/ Chief Executive w. e. f. February 01, 2013 and Mr. Naveed-ul-Islam, Director of the Company w. e. f. September 01, 2013.
Information under Section 218 of the Companies Ordinance, 1984
The Board of Directors of the Company in its meeting held on February 27, 2013, has revised the monthly remuneration of Mr. Shahid Abdullah with effect from February 01, 2013 and Mr. Naveed-ul-Islam with effect from September 01, 2012 as under:
| Mr. Shahid Abdullah | Mr. Naveed-Ul-Islam | |
| Director | Director | |
| Salary | Rs. 666,700 | Rs. 201,067 |
| House Rent | Rs. 300,000 | Rs. 90,480 |
| Utilities | Rs. 33,300 | Rs. 8,553 |
| Total: | Rs. 1,000,000 | Rs. 300,100 |
The Directors/ Chief Executive shall be entitled for company maintained cars, reimbursement of medical expenses of self and family, actual expenses on local and foreign tours inclusive of Air Tickets, Hotels and others. They will also be entitled to accompany their family in tours twice a year. All expenses of residence telephones and all their clubs and other entertainment expenses at actual shall be borne by the Company.
For more information, contact:
Sapphire Fibres Limited
316, Cotton Exchange Building,
I. I. Chundrigar Road, Karachi (Pakistan)
UAN: 92 92 111 000 100
Fax: (92 21) 2416705