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Millat Tractors Limited

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Millat Tractors Limited
subject: Financial Reporting
Millat Tractors Limited
Synopsis of Annual Director report 2013

Touqeer Hussain Awan

Submitted To: Sir Ubaid Ur Rehman

ABOUT MILLAT TRACTORS LIMITED
BOARD OF DIRECTORS
CHAIRMAN
MR. SIKANDAR MUSTAFA KHAN
CHIEF EXECUTIVE
SYED MUHAMMAD IRFAN AQUEEL
MR. LATIF KHALID HASHMI
MR. SOHAIL BASHIR RANA
MR. LAEEQ UDDIN ANSARI
MIAN MUHAMMAD SALEEM
MR. MANZOOR AHMED (NIT NOMINEE)
MR. SAAD IQBAL
COMPANY SECRETARY
MIAN MUHAMMAD SALEEM
CHIEF FINANCIAL OFFICER
MR. JAVED MUNIR

The Directors think delight in presenting their 50th annual report together with audited accounts of the Company for the year ended June 30, 2013.

APPROPRIATIONS
The Directors suggested a payment of closing cash dividend @ Rs. 25.00 per share (250%) with issuance of 10% Bonus Shares.
The abovementioned payout shall be in adding to the interim cash dividend of Rs.30.00 per share (300%) and 10% Bonus shares already issued assembly a total payout of Rs. 55.00 per share (550%) as cash dividend and 20% Bonus shares.
DIRECTOR REPORT
TO THE SHAREHOLDERS
EARNINGS PER SHARE Earning per share June 30, 2013 was Rs. 53.11 as against Rs. 49.11 of the last year.

BOARD OF DIRECTORS The board of directors are eight which seven were designated in the extra ordinary meeting established on November 01,2012. During the year MCB Nominee Director Mr. S.M Tanveer resigned from the Board. Since then there has been no change in the composition of the
Board.
During the year, five Board meetings were held. The number of meetings attends by each director is given hereunder:

Name of director
Meeting attended
Mr. Sikandar M. Khan - Chairman
5
Syed Muhammad Irfan Aqueel-CEO
4
Mr. Latif Khalid Hashmi
5
Mr. Sohail Bashir Rana
5
Mr. Laeeq Uddin Ansari
5
Mian Muhammad Saleem
5
Mr. Manzoor Ahmed
2
Mr. Saad Iqbal
2

HUMAN RESOURCE & REMUNERATION COMMITTEE
The Human Resource & Remuneration Committee was making up by the Board in its 139th meeting apprehended on November 12, 2012 comprising of the
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