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KARACHI: An extraordinary general meeting of shareholders of the United Bank Limited on Friday approved the voluntary winding up of the UBL Switzerland AG -- a wholly owned subsidiary of the United Bank Limited.

The extraordinary general meeting of the shareholders of the UBL also resolved that the president and CEO of UBL be and is hereby authorized to take all steps and action to give effect to the above resolution and to this effect to nominate/authorize any committee and/or person(s) or consultant(s) to fulfil the formalities, collect and submit documents to the regulatory or other concerned bodies in Pakistan and Switzerland for the purpose of winding up of UBL Switzerland AG, material information sent to the Pakistan Stock Exchange said.

Copyright Business Recorder, 2021

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