The Governing Board of Directors of the Lahore Stock Exchange (LSE) in its meeting on Thursday formally elected Syed Asim Zafar as new chairman of the LSE.
All the elected directors belong to Khawaja Hamid Saeed Group, and they had nominated Syed Asim Zafar for the slot of the LSE chairman.
The names of the elected directors are: Syed Asim Zafar, Adeel Zafar, Gul-i-Dhami, Dr Arslan and Haji Ghani Haji Usman.
The non-member directors are Justice Amir Raza A. Khan (Retd), Aamir H. Sherazi, Mrs Roohi R. Khan, and Shahid H Kardar.
According to rules, only member directors can vote. However, except Aamir H. Sherazi all the non-elected members were present in the meeting.
Giving details of the meeting, LSE Managing Director Samir Ahmed told Business Recorder that besides election of the chairman, the board also approved three associate memberships for KASB Bank Ltd, Pakistan Capital Market Fund and Pakistan Premier Fund.