Election of Directors

The Election of Directors were held in the Extraordinary General Meeitng (EOGM) on Monday, March 17,2025.

Results Of Election

Notice of EOGM - English

Proxy Form - English

List of Shareholders (Password protected)

Postal Ballot Paper

Report Of Scrutinizer

Notice of EOGM - Urdu

Proxy Form - Urdu

Notice u/s. 154 (4)

Profile of Candidates

Mr. Muhammad Ali Tabba (“Mr. Tabba”) embarked on his career journey with the prestigious Yunus Brothers Group (YBG) in 1991. YBG, a distinguished family conglomerate, has established itself as an exemplar of entrepreneurial excellence not only in Pakistan, but also across the Middle East, Central Africa, Europe, and North America. With variegated interests spanning Building Materials, Chemicals, Pharmaceuticals, Energy, Textiles, Automotive, and Real Estate Development, Mr. Tabba has significantly contributed to YBG’s growth and diversification, solidifying its position as a global player in multiple industries.

Mr. Tabba assumed the role of Chief Executive at Lucky Cement Limited (LCL), succeeding his late father in 2005. His formidable leadership extends far beyond the cement industry, as he holds prominent positions as the Chairman of Yunus Textile Mills Ltd., Lucky Motors Corporation and Lucky Electric Power Company Limited. Additionally, he serves as the Vice Chairman of Lucky Core Industries Limited (formerly ICI Pakistan Limited), propelling the company’s success through his strategic acumen.

Beyond the corporate sphere, Mr. Tabba assumes pivotal roles in industry and community organizations. He proudly serves as the Chairman of the All-Pakistan Cement Manufacturing Association, and his previous responsibilities include Chairmanship at the Pakistan Textile Council and the Pakistan Business Council. He’s actively engaged in several community welfare initiatives, further emphasizing his commitment to societal progress. His presence extends to renowned universities, institutions, and foundations, where he diligently sits on the Board of Governors, guiding their missions.
Mr. Tabba’s commitment to philanthropy is exemplified through his role as the Chairman of the Aziz Tabba Foundation (“ATF”), a non-profit organization dedicated to the amelioration of society in areas such as social welfare, education, health, and housing. The two cutting-edge hospitals in Karachi, namely the Tabba Heart Institute and Tabba Kidney Institute are the epitomes of ATF’s significant benefactions to the community.

Acknowledging his exceptional contributions to Pakistan’s social development sector, Mr. Tabba was honored with the title of Young Global Leader by the World Economic Forum in 2010. His remarkable achievements also include receiving the prestigious Karachi Chamber of Commerce and Industry “Businessman of the Year” Gold Medal Award for 2012-2013. In a testament to his unwavering dedication, the Government of Pakistan bestowed upon him the Sitara-E-Imtiaz in 2018, one of the nation’s highest civilian awards.

Mr. Muhammad Ali Tabba’s multifaceted leadership, combining business excellence with a resolute adherence to social welfare, paints a compelling portrait of a visionary leader whose contributions continue to leave an indelible mark across Pakistan and beyond.
Mr. Jawed Yunus Tabba has a rich experience in the textile industry and is currently the Chief Executive Officer and Director of a renowned textile mill, Lucky Textile Mills Limited. His untiring efforts helped him acquire deep insight and expertise in export and manufacturing activities.

He has been instrumental in managing the textile concerns of the YBG and has transformed Lucky Textile Mills Limited into one of the premier textile companies in Pakistan. Lucky Textile Mills Limited is among the top five home textile exporters from Pakistan, and it has been a story of rapid expansion and diversification in the textile industry under his leadership and guidance. He is also the Vice-Chairman of YBG.

He is on the Board & related subcommittees of Lucky Cement Limited, ICI Pakistan Limited and Lucky Motor Corporation Limited. He is keenly involved in the formulation of vision, strategies & governance structures of these companies.
Mr. Jawed Yunus Tabba is also managing the real estate project LuckyOne, which is the largest mall in Pakistan. Mr. Jawed Yunus Tabba is extensively engaged in community welfare projects, which include the Aziz Tabba Foundation. He is also a member of the Young President Organization (YPO).
Having pursued a Bachelor’s degree in Management Sciences from the University of Warwick and a Master’s degree in Management, Organizations and Governance from the London School of Economics and Political Science, Ms. Zulekha Tabba Maskatiya has been an indispensable part of the business.

She not only holds a prestigious position within the YBG, but her educational background brings the values of business focus, corporate governance, and social responsibility to the organization.
Mr. Hassan Tabba serves as the Chief Executive of Yunus Textile Mills Limited (YTM), a state-of-the-art home textile mill with subsidiaries in North America and Europe. Hassan spearheads YTM while playing a pivotal role in providing a strategic vision to the Organization. Following his graduation in 2019 from Bentley University in Business & Finance, he has been working on developing corporate strategy for YTM. He has not only developed the organizational culture to promote transparency and collaboration throughout the organization. Still, He has also worked on developing partnerships with company stakeholders, shareholders, industry regulators, and other relevant parties. Mr. Tabba has actively participated in planning new projects and served in an excellent manner for the expansion and development of his organization. Mr. Hassan Tabba also serves on the board of the Aziz Tabba Foundation. The Foundation is working extensively in Social Welfare, Education, Health, and Housing. The Foundation runs two state-of-the-art Hospitals in Karachi; 170-bed Tabba Heart Institute (THI), a dedicated Cardiac Care Hospital, and 100-bed Tabba Kidney Institute (TKI), a specialized institution providing comprehensive treatment for Nephro-Urological disorder.

Mr. Ibrahim Sohail Tabba serves as the Executive Director at Lucky Landmark (Private) Limited (the “LLPL”), the owning company of LuckyOne Mall – Pakistan’s largest shopping destination.

A graduate of Goldsmiths, University of London (2023) with Bachelor’s degree in Business Management, Mr. Ibrahim brought a fresh perspective and dynamic leadership to LLPL. Since joining the LLPL, he has been instrumental in developing and steering the LLPL’s strategic direction.

At LLPL, Mr. Ibrahim has been committed on setting a strategic direction for the company by shaping the culture, driving innovation, and fostering a customer-centric approach. He has implemented key initiatives to enhance operational efficiency and expand the mall’s market reach, while also prioritizing sustainability and corporate social responsibility. Through his leadership, he is aiming to maintain its position as a market leader and continue delivering exceptional value to both customers and stakeholders.

With a vision for continuous growth and excellence, Mr. Ibrahim plays an active role in overseeing the group’s textile businesses, with a particular focus on sustainability. He is committed to leveraging advancements in technology to drive innovation and add value to the textile sector.

A chartered accountant by profession, Syed Muhammad Shabbar Zaidi served as the 26th Chairman of the Federal Board of Revenue (FBR) from May 2019 to April 2020. He previously also served as a Provincial Minister for Finance, Board of Revenue, and Excise & Taxation, in the Government of Sindh during the 2013 caretaker setup. Mr. Zaidi was also a member of the Federal Government Task Force for Reform of Tax Administration in 2002 and authored the report.

A retired senior partner at A. F. Ferguson & Co, he also serves as Chairman of the Securities & Exchange Commission Committee formed for Corporate Industrial Rehabilitation Reform and is a member of the Economic Advisory Council. He is a fellow member of the Institute of Chartered Accountants of Pakistan and has also served as President of the Institute from 2005-2006.

Mr. Zaidi has also served as a member of the Developing Nations Committee of the International Federation of Accountants, President South Asian Federation of Accountants, Founder Director of Pakistan Institute of Corporate Governance, member Central Audit Committee of the State Bank of Pakistan and was the Director of the Karachi Stock Exchange Limited from 2012-2015.

Currently, Mr. Zaidi is serving on the board of ICI Pakistan Limited as an independent director and as Chairman Audit Committee. Among his non-profit work, he is a trustee of the Sindh Institute of Urology & Transplantation (SIUT) and a member of the Board of Governors of Liaquat National Hospital and Karachi School of Business and Leadership (KSBL). Mr. Zaidi has also authored books, including ‘A Journey for Clarity’ and ‘Pakistan: Not a Failed State’

Mr. Fudda, has more than 45 years of experience which encompasses working in the corporate sector as well as performing diplomatic duties. He holds B.S. in Insurance & Economics from the RCD College of Insurance, Tehran, and MBA in Insurance & Risk Management from St. Jones University New York. In his former role as Managing Director of Karachi Stock Exchange (now PSX), he was elected as Chairman of the Corporate Governance Task Force of Federation of European and Asian Stock Exchanges (FEAS). He has helped in creation of Pakistan Institute of Corporate Governance (PICG) and is a member of its faculty as well as a Certified Corporate Governance Trainer by the International Finance Corporation (IFC).

In Tehran he worked as a Client Executive, Stewart Wrightson, Lloyds Insurance Brokers). In New York he was Manager Reinsurance of American Internation Group and Adjust Assistant Professor at The College of Insurance. Prior to joining KSE, he was Country Chief of New Zealand Insurance and Commercial Union (CU now AVIVA) and Founder MD of CU Life (now Jubilee Life. He has also held positions such as Country Director, Center for International Private Enterprise, an affiliate of US Chamber of Commerce, Executive Director Pakistan Reinsurance Company.

He is the Country Representative of SCOR Reinsurance of France. Since 1989 he is the Honorary Consul General of New Zealand for Pakistan. In 1990, NZ Commemoration Medal was conferred on him by the Queen of New Zealand and in 2002, he was recognized as the Honorary Officer of the New Zealand Order of Merit (ONZM). In 2006, he was conferred the coveted Sitara-e-Imtiaz (S.I.) by the President of Pakistan. He and his wife have travelled to 130 countries in six continents. His other Directorship include:
  • Feroz1888 Mills Limited
  • Lucky Textile Mills Limited
  • Pak Suzuki Motor Company Limited
  • IT Minds Limited

Cheif Executive: Karachi Stock Exchange National Commodity Exchange Commercial Union/NZI Insurance Centre for International Private Enterprise, Pakistan
Mr. Fudda’s other professional affiliations were:

Chairmain: Central Depository Company of Pakistan, Islamabad Stock Exchange & NCCPL Alternate Dispute Resolution Committee – Federal Board of Revenue

President:
Overseas Investors Chamber of Commerce & Industry
Management Association of Pakistan & Karachi Boat Club

Director:
State Life Insurance Corporation
Pakistan Stock Exchange Limited
Wyeth Pakistan Limited
Merit Packaging Limited
Al Meezan Investment Limited

Member: Board of Investment – Privatization Commission & Britain Business Advisory Group Pakistan Institute of Management – Executive Committee of FPCC&I
Mr. Muhammad Ahmad brings over two decades of diverse expertise encompassing infrastructure development, project finance, corporate finance, risk management, mergers and acquisitions, investments, and corporate banking. He holds the CFA charter, is an Associate Member of the Chartered Institute of Management Accountants UK, and is a CPA Australia. Additionally, he holds a Master’s degree in commerce from Hailey College of Commerce, Punjab University Lahore.

Previously, Mr. Ahmad served as Head of Credit at Qatar Development Bank Limited and held the position of Vice President Corporate Credit at First Abu Dhabi Bank UAE where he managed a portfolio of over USD 10BN of assets. His career has been marked by significant involvement in green-field project equity and debt investments, limited recourse debt financing, cross-border project finance utilizing export credit agencies and multilateral lending agencies, risk management including hedging through derivative instruments, due diligence methodologies, portfolio management, equity and fixed income valuations, financial analysis, asset securitization, and capital market operations and regulations.
Currently, Mr. Ahmad holds a senior role within the Project Financing Department for Wholesale and Institutional Banking, at Emirates Development Bank Abu Dhabi UAE. He has keen interest in Pakistan’s Textile Sector. He has been analyzing the entire listed textile sector for the past 20 years. He is also well versed with Capital Markets in Pakistan and has an in depth understanding of the Pakistan’s Economy. His professional development includes participation in numerous international and local management courses, seminars, and workshops conducted by renowned providers worldwide.

Election of Directors

Following directors were elected unopposed for the period of three years in the
Extraordinary General Meeting held on March 18, 2022.

Mr. Muhammad Yunus Tabba

(Passed away on january 1, 2023)

Mr. Muhammad Sohail Tabba

Mr. Muhammad Ali Tabba

Mr. Jawed Yunus Tabba

Mrs. Zulekha Tabba Maskatiya

Mr. Syed Muhammad Shabbar Zaidi

Mr. Moin M Fudda

Next Election of Directors will be held in March 2025

On October 13, 2022, Mr. Muhammad Sohail Tabba tendered his resignation as an elected director of the Company, continuing his role as the CEO of the Company. The casual vacancy was filled by the Board through the appointment of Mr. Muhammad Hassan Tabba as Non-Executive Director w.e.f., October 14, 2022 till the remainder of the term.

The Casual vacancy arising on the Board of Directors after the sad demise of Mr. Muhammad Yunus Tabba on January 2, 2023 was filled by the Board through the appointment of Mr.Imran Yunus as Non-Executive Director w.e.f., January 26, 2023 for the remainder of the term.