ISE HOLDS ITS AGM

The general body of Islamabad Stock Exchange (ISE) held its annual general meeting on 30 October 2013 at ISE Auditorium, Islamabad. This was the second AGM after demutualization of ISE. Mr. Muhammad Rashid Zahir Chairman ISE briefed the members on overall performance of the ISE after demutualization. He informed about the changes in regulatory regime of ISE as well as restructuring of management in terms of Plan for segregation of regulatory and commercial functions of the ISE. The Chairman informed that ISE had posted good profit in the fiscal year ended 30 June 2013. He emphasized that the trading activities at ISE needed enhance focus by the members to generate the trading volumes to a desired level. The annual accounts were discussed in detail and after thorough deliberations, the same were approved by the general body. The general body also reappointed M/s. BDO as external auditors of the ISE for ensuing period.

Mian Ayyaz Afzal, Managing Director Islamabad Stock Exchange brief them about the efforts made by the exchange for bringing the strategic Investor to the exchange and he said that soon 40 % of the shares shall be sold to the strategic investor as some of the institutions have shown interest for investment.