Governance – International Knitwear Limited

Board of Directors

Mr. Waseem Ahmed Shafi
Chairman

Mr. Waseem Shafi joined the Board as director in June 1994 and became the Chairman of International Knitwear Limited on June 30 2017.

Mr. Waseem Shafi has vast and extensive experience in Textile industry.

His extensive assertion with the Textile sector has provided him with an in-dept. knowledge of the industry. Through his thorough knowledge of the industry he has contributed to the overall growth of the company.

He is actively participated in planning for the new project and bared in an excellent manner for expansion & development.

He takes and accepts challenges and takes decision in critical situation & scenarios.

Presently he is also on the Board of the following companies.

International Clothing (PVT) Limited since 1997.

BMW Travels (PVT) Limited 2018.

Mr. Naeem Ahmed Shafi
Chief Executive

Mr. Naeem Ahmed Shafi joined the Board as director in June 1994 and became the Chief Executive of International Knitwear Limited on November 16, 2000.

He is a commerce graduate from University of Karachi and has vast experience in Textile and related industry. He provides guidance to the management for smooth operation of the mills, future planning and human resource. He has travelled abroad and enjoys good reputation with both Local and International customers. He has actively participated in planning for the new projects and contributed in an excellent manner for expansion & development.

He had served as an independent director on the Board of Security Leasing Corporation Limited in the past from February 2010 to January 2016. He was also the Chairman of the Audit Committee.

He is also serving as an independent director on the Board of Shahmurad Sugar Mills Limited and its Board of Audit Committee.

Mr. Javed Khan
Director/Chief Financial Officer & Company Secretary

Mr. Javed Khan is associated with IBL group of Companies in since 1991.
Presently he is holding the charge of Chief Financial Officer and Company Secretary. He has appointed on the board since October 7,2011.

He has attended various financial management courses, training programs, seminars and conferences in Pakistan and abroad. He is fellow member of the Institute of Corporate Secretaries of Pakistan, Institute of Internal Auditor and Masters in Business Administration in Finance. He holds a Bachelor’s in Law and Commerce. He is also a certified director from the Institute of Chartered Accountants of Pakistan.

He has more than 28 years of diversified experience in senior management positions and has been part of the various assignments undertaken from time to time with an emphasis on financial management, operational management, mergers and acquisitions, corporate and legal affairs as well as taxation.

Mr. Sajid Hussain
Director

Mr. Sajid Hussain is currently working in The Searle Company Limited (TSCL) as Sr. Manager Legal and Corporate Affairs handling the legal and corporate compliance matters and has more than twenty four years of experience.

He has been with the Company since 2009 and severing as Non-Executive Director on the board of the Company. Mr. Hussain holds Bachelor degree from the University of Karachi.

Mr. Muhammad Shafi
Director

Mr. Muhammad Shafi has been appointed in 2013 as a Non-Executive Director of the company.
He belongs to an industrialist family having rich experience of textile sector and grooming himself to be as an energetic young businessman.

Mr. Mudassir Habib Khan
Director

Mr. Mudassir Habib Khan has been appointed in 2018 as a Non-Executive Director of the company.

Mudassir Habib Khan is a finance professional with over fifteen years of experience in finance, controlling, audit, risk management, corporate governance, legal and tax matters in Pakistan and Middle East.

He is currently serving as Group Head of Internal Audit in a leading conglomerate of Pakistan having diversified portfolio of business relating to Pharmaceuticals, Distribution, FMCG, Retail and Information Technology.

He is a member of Institute of Chartered Accountants of Pakistan (ICAP) and Association of Chartered Certified Accountants (ACCA). He did his article ship from A. F. Ferguson (pwc).

Ms. Saleha Majid
Director

Ms. Saleha Majid has been appointed in 2018 as a Independent Director of the company.

Saleha Majid brings with her a multidisciplinary experience of 20 years in different capacities within the group companies.

Her major contribution is in marketing and sales where she proved her mettle in nutrition business with Mead Johnson and Searle Nutrition, for almost 15 years.

She also served as HR Business Partner for 2.5 years and is currently getting a hand on experience of QMS department in quality operations.

Saleha is a Pharmacy graduate from Karachi University and holds an MBA degree with Marketing as majors from PIM in affiliation with IBA Karachi.

Election Details

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the Twenty Eight (28th) Annual General Meeting of International Knitwear Limited will be held on Saturday, October 27, 2018 at 18:00 hours at F-2A/L S.I.T.E Karachi to transact the following business:

ORDINARY BUSINESS:-

1. To confirm minutes of the Annual General Meeting held on October 28, 2017.

2. To receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2018, together with the Directors’ and Auditors’ reports thereon.

3. To declare and approve final cash dividend @ 5% i.e.PKR 0.50 per share for the year ended June 30, 2018, as recommended by the Board of Directors.

4. To appoint auditors of the Company and fix their remuneration for the year ending June 30, 2019. The present auditors M/s RSM Avais Hyder Liaquat Nauman, Chartered Accountants, retire and being eligible have offered themselves for reappointment.

5. To elect seven (7) Directors of the Company as fixed by the Board pursuant to the provisions of Section 159 of the Companies Act, 2017 for a term of three (3) years commencing immediately after the conclusion of the meeting. The names of retiring Directors are as follows:

      i. Mr. Waseem Shafi
      ii. Mr. Naeem Shafi
      iii. Mr. Javed Khan
      iv. Mr. Muhammad Shafi
      v. Mr. Sajid Hussain
      vi. Mr. Arshad Ahmed
      vii. Mr. Javed Akhter Malik

6. To transact any other business with the permission of the Chair.

By Order of the Board
Karachi: October 06, 2018

Javed Khan
Company Secretary

ELECTION OF DIRECTORS:

Nomination / Notice of intention to offer himself/herself for election as a director in terms of Section 159(3) of the Companies Act, 2017, shall be filed, with the Company at the Registered Office, F-2A/L S.I.T.E, Karachi, by a member, not later than fourteen (14) days before the date of the above said meeting, along with:

Consent to act as director on Form-28 duly completed and signed by the candidate as required under section 167(1) of the Companies Act, 2017.

Candidates detailed profile along with his/her office address as required under SECP’s SRO 634(I)/2014 dated July 10, 2014.

Signed declaration to the effect that the candidate is aware of the duties and powers of directors under the Companies Act, 2017, Memorandum and Articles of Association of the Company, Rule Book of Pakistan Stock Exchange Limited, the Listed Companies (Code of Corporate Governance) Regulations, 2017 and other relevant laws and regulations.

Signed declaration to the effect that the candidate is compliant with the requirements and eligibility criteria as set out in the Companies Act, 2017 and Listed Companies (Code of Corporate Governance) Regulations, 2017 to be appointed as a Director/Independent Director of the listed Company.

Copy of valid CNIC/Passport and NTN.

Following additional documents are to be submitted by the candidate(s) intending to contest election of directors as an independent director:

Declaration under Regulation 6(2) of the Listed Companies (Code of Corporate Governance) Regulations, 2017 that the candidate qualifies the criteria of independence notified under the Companies Act, 2017; and

Undertaking on non-judicial stamp paper that the candidate meets the requirements of Regulation 4(1) of the Companies (Manner and Selection of Independent Directors) Regulations, 2018.

Shareholders

INKL LIST OF SHAREHOLDERS AS ON 31-03-2023

Compliance Certificate

Compliance_Certificate 2018