Appointment of Director of Pace Pakistan Limited

Karachi, Pace Pakistan Limited informed Pakistan Stock Exchange that Mr. Shavez Ahmad has been appointed as Director with effect from February 26, 2020 in place of Malik Farhan Hassan.

Pace Pakistan Limited is a public limited company incorporated in Pakistan. The foundations of the company are laid under the principals of the companies Ordinance, 1984. The company operates in the real estate industry and aims to build, acquire, manage and sell condominiums, departmental stores, shopping plazas, super markets, utility stores, housing societies and to carry out commercial, industrial and other related activities in and out of Pakistan. Pace is currently working in the real estate and hospitality sectors, including shopping malls, office buildings, business centers, modern housing schemes, apartment complexes and multi-use projects. The stocks of the company are quoted on the Karachi and Lahore stock exchanges of Pakistan. The registered office of the company is located in Lahore.

The company is part of a larger conglomerate, the First Capital Group, which owns and operates a number of businesses in the financial services, real estate development, media and telecom sectors in Pakistan and abroad.

The symbol “PACE” is being used by the stock exchanges for the shares of Pace Pakistan Limited.