Financial Statements - United Bank Limited

U N I T E D B A N K L I M I T E D
Directors’ Training Program
In compliance of Clause (xi) of the Code of Corporate Governance, Mr. Seerat Asghar, Director,
successfully completed the Corporate Governance Leadership Skills program conducted by The
Pakistan Institute of Corporate Governance. Last year, Mr Amin Uddin, Director, completed the
same program.
Pattern of Shareholding
The pattern of shareholding as required u/s 236 of the Companies Ordinance, 1984 and Clause
(xvi) of the Code of Corporate Governance is given below:
Shareholders No. of Shares % of Ordinary
Shares
Bestway Group (BG) 625,191,261 51.07
Abu Dhabi Group (ADG) 67,329,867 5.50
State Bank of Pakistan 238,567,381 19.49
Government of Pakistan 3,354,550 0.27
Privatization Commission of Pakistan 1,714 0.00
General Public & Others 179,993,330 14.70
NIT 1,192,199 0.10
Banks, DFIs & NBFIs 26,083,910 2.13
Insurance Companies 10,029,107 0.82
Modarabas & Mutual Funds 11,288,893 0.92
Securities & Exchange Commission of Pakistan 1 0.00
* International GDRs (non-voting shares) 61,147,474 5.00
TOTAL OUTSTANDING SHARES 1,224,179,687 100.00
* ADG also holds 4.80% additional shares in the form of GDRs.
The aggregate shares/GDRs held by the following are:
No. of
shares/GDRs
a) Associated Companies, undertakings & related parties
- Bestway (Holdings) Limited 467,611,120
- Bestway Cement Limited 93,649,744
- ADG holding in the form of GDRs* 14,708,099
b) NIT
-National Bank of Pakistan – Trustee Department NI(U)T Fund 1,192,199
Modarabas & Mutual Funds** 11,288,893
c) Public sector companies and corporations 508,362