Karachi: Burj Clean Energy Modaraba, listed under the Growth Enterprise Market (GEM) category, has announced a significant leadership change as Mr. Nabeel Anjum Malik has submitted his resignation from the roles of Director and Chief Executive. The company, in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of the Pakistan Stock Exchange (PSX) Regulations, has communicated this development to its certificate holders.

According to information available from the Pakistan Stock Exchange (PSX), the Board of Directors has put forward Mr. Nadeem Lodhl as the proposed successor for the positions of Director and Chief Executive of Burl Investment Management Limited, replacing Mr. Malik. This proposal was made during a board meeting held on February 26, 2026.

The appointment of Mr. Lodhl is contingent upon the approval of the Registrars Modaraba and the Securities & Exchange Commission of Pakistan, as stipulated by the Modaraba Regulations, 2021. Until the necessary approvals are obtained, Mr. Malik will continue in his current roles to ensure a seamless transition of responsibilities.

Stakeholders and certificate holders have been duly informed of these developments, marking a pivotal moment for Burj Clean Energy Modaraba as it navigates this leadership transition.