Appointment of chairman and Chief Executive Officer of Rafhan Maize Products Company Limited

Karachi, Rafhan Maize Products Company Limited informed Pakistan Stock Exchange that that Mr. Pierre Perez y Landazuri has been appointed as Chairman and Mr. Usman Qayyum has been appointed as Chief Executive Officer and Managing Director of the Company with effect from September 07, 2021.

Rafhan Maize Products Company Limited was incorporated in Pakistan. Ingredion Incorporated Chicago, U.S.A., holds majority shares of the Company. The Company uses maize as the basic raw material to manufacture and sell a number of industrial products, principal ones being industrial starches, liquid glucose, and dextrose, dextrin and gluten meals.

The total number of shares are 9,236,400. The Earnings per share is 659.80 in 2020 which was 589.36 in 2019. The Profit after Taxation of the Company 6,094,231,000 in 2020 which was 5,443,566,000 in 2019.