GOVERNANCE
BOARD OF DIRECTORS
MR. ABBAS AKBERALI
CHAIRMAN & NON-EXECUTIVE DIRECTOR
MR. SHAYAN AKBERALI
CHIEF EXECUTIVE OFFICER
MR.BADAR KAZMI
INDEPENDENT DIRECTOR
Mr. Badar Kazmi brings an experience spanning over 34 years including almost all facets of the banking industry in Pakistan, Middle East, South Asia and Africa. He started his career with BCCI in 1980 and worked for 11 years in Pakistan and the Middle Eastern Region. Mr. Kazmi then joined Standard Chartered Group (SCB) in 1991 and held various positions including Regional Head of Global Markets for MESA (Middle East and South Asia) and Africa. In 2003, he was appointed as the CEO of SCB Pakistan, a position he held till late 2010. In recognition for his services to banking in Pakistan, Mr. Kazmi was awarded the
‘Sitara-e-Imtiaz’ by the President of Pakistan.
MR. ZAFAR AHMED TAJI
INDEPENDENT DIRECTOR
Mr. Zafar Ahmed Taji started his professional career in 1971 after completing MBA from IBA Karachi holding first position. Since then, he has spent more than 40 years with a number of multinational companies like Exxon Corporation, Union Carbide of USA and British American Tobacco/Pakistan Tobacco. During these assignments, he has headed the Finance, IT, and HR functions at various times. He has been a member of Prime Minister Pay and Pension Commission, Advisor to Pakistan Air Force, Advisor to Chairman PIA and Chairman PCB, HR Director of Interloop and Sapphire Group of Companies. He has also served as Dean of Riphah University and Director General of NUST Business School.
Mr. Taji is a certified Corporate Governance professional from PICG and a certified practitioner from Mentoring University of USA. During the last 15 years, he has invested most of his time and efforts towards becoming an effective “Leader of Change” wherein he has put extensive efforts for planning, creating, and implementing a totally new organizational transformation philosophy in a number of companies.
MR. TEIZOON KISAT
INDEPENDENT DIRECTOR
MR. HADI AKBERALI
EXECUTIVE DIRECTOR / CHIEF OPERATING OFFICER (STRATEGY)
MS. MARIAM AKBERALI
NON-EXECUTIVE DIRECTOR
MANAGEMENT
MR. FAZAL AHMED
CHIEF OPERATING OFFICER (OPERATIONS)
INVESTOR CORRESPONDENCE
ANNOUNCEMENTS AND FORMS
ELECTIONS OF DIRECTORS
The next Election of Directors will be held in May 2024
INVESTOR INFORMATION
CODE OF CONDUCT
INTRODUCTION
The Code of Conduct of the Company defines what we stand for and believe in, documenting the uncompromisingly high ethical standards our Company has upheld since its foundation.
Strong business ethics should form the basis for all of our relationships with employees, customers, competitors, suppliers sand colleagues. It is a fundamental policy of the Company to conduct its business with honesty, integrity and in accordance with the highest ethical and legal standards.
Here we clearly state our business principles and show their impact on everyone involved with the company; from the Board, management and employees, to the consumers, suppliers and business partners. These principles highlight our responsibility to:
- Maintain and help the Company in maintaining highest degree of Corporate Governance practices;
- Conduct our business activities with the highest principles of honesty, integrity, truthfulness and honor;
- Conduct all business activities strictly on an arm’s length business basis;
- Promote ethical business practices;
- Respect the environment and communities in which we operate;
- Assure equal employment opportunities;
- Value diversity in the workplace;
- Provide healthy and safe working environments;
- Respect human rights and trade ethically;
- Act in utmost good faith and exercise due care, diligence and integrity in performing the office duties;
- Comply both in letter and in spirit with all applicable laws and regulations;
- Ensure that all business transactions are recorded in true, fair and timely fashion in accordance with the accounting and financial reporting standards, as applicable to the Company;
- Refrain from involvement in any other similar business which consumes their time, efforts and energy without disclosure and approval of Company’s management;
- Ensure that company personnel protect the Company’s assets and properties including physical assets, information and intellectual rights and not use the same for their personal gain;
- Maintain confidentiality of information entrusted by the Company or acquired during performance of their duties and shall not use it for personal gain or advantage;
- Avoid providing any information either formally or informally, to the press or any other publicity media or any other person whosoever, unless specifically authorized;
- Avoid utilization of bribery or corruption in conducting the Company’s business;
- Avoid receiving any gift, payments or favor in whatsoever form from Company’s business associates, which can be perceived as being given to gain favor or dealing with the Company and shall ensure that the Company’s interests are never compromised;
- ensure that Company personnel abide by all job descriptions, contracts, agreements, terms of reference, standard operating procedures, and directives duly approved and enforced by the Company
Applicability
The Code applies to the following (collectively termed as “Company Personnel” for the purposes of this Code):
- Members of the Board of Directors
- Senior Management Personnel
- All employees of the Company
Compliance with laws, rules and regulations
The Company and its personnel are bound by the law. Compliance with all applicable laws and regulations must never be compromised. Additionally Company personnel shall adhere to internal rules and regulations as they apply in a given situation. Those internal rules are specific to the Company and may go beyond what is required by the law.
Consequences of Non-Compliance of Code
Any breach of the Code, Terms of Appointment, Company’s policies, Rules and Regulations or any acts of misconduct and fraud or embezzlement will be viewed seriously and may invite disciplinary action, including the termination of employment and criminal prosecution, if required. For the said purpose, all Company’s policies and rules will also be deemed to be an integral part of this Code.
Conflicts of Interest:
The Company expects that all personnel will perform their duties conscientiously, honestly, and in accordance with the best interests of the Company. The Company personnel must not use their positions or the knowledge gained as a result of their positions for private or personal advantage.
Regardless of the circumstances, if directors/employees sense that a course of action they have pursued, or are presently pursuing, or are contemplating pursuing may involve them in a conflict of interest with their employer, they should immediately communicate all the facts to their supervisor or to the Board as the case may be.
Company Policies
The Company maintains specific policies applicable to its personnel. All Company personnel must become and remain familiar with all applicable Company policies and abide by them as they may change from time to time, which will also be communicated by HR department accordingly
Work Environment
The policy of the company is to provide a working environment free of discrimination and harassment in which individuals are accorded equality of employment opportunity based upon merit and ability. Discriminatory practices based on race, sex, color, national or ethnic origin, religion, marital status, family status, age or disability will not be tolerated. It is not a discriminatory practice to make a distinction between persons based on bona fide occupational requirements. Since bona fide occupational requirements are narrowly defined, such distinctions should not be undertaken without first obtaining express authorization from the relevant management level.
Communications and involvement
We have a long tradition of encouraging direct, two-way involvement of and communication with employees. This is in order to obtain the fullest participation of everyone’s energy and views and we believe is best promoted within the local workplace through locally-based information and consultation procedures.
Conduct and Behavior Standards
All Company personnel are expected to contribute to the success of the Company by performing their responsibilities as required and conducting themselves in a professional manner consistent with the Company’s business philosophy, values and standards of business conduct. Employees’ honesty and integrity are essential to ethical business practices.
Confidentiality
Confidential business information must not be shared with others outside the company or used for the personal gain of oneself or others. Company personnel, their family and close acquaintances should not buy or sell company shares if they have material information that has not been made public and could affect the share price. We expect the company personnel to keep all information confidential. This might include plans to buy or sell business, product formulation, manufacturing processes, advertising, marketing plans, concepts, research and development, suppliers, customers, financial information, personnel and employment matters, and other information which is not generally known to the public.
Inside Information
The company personnel shall not use for their own financial gain or disclose for the use of others, inside information obtained as a result of their position within the company. The company personnel may find themselves in violation of the applicable securities laws if they misuse information not generally known to the public and either trade or induce others to trade in the stock of the company or in the stock of another company. Specific confidential information would include financial information, information concerning acquisitions or dispositions of properties and proposed acquisition or mergers with other companies. In case of this breach of confidentiality the Company may be subjected to regulatory penalties and therefore, to prevent and address such instances, it may consider disciplinary and legal recourse.
Political Activities
The Company neither supports political parties nor contributes to the funds of groups whose activities are calculated to promote party interests. No contributions to a political candidate or public official with the funds or assets or in the name of the Company are allowed, including direct or indirect contributions or payments made through third parties such as suppliers or customers. The company personnel shall ensure their non-indulgence or any appearance for any political activities.
Health And Safety
We recognize the importance of health and safety within our business. We seek to provide a healthy, safe and clean working environment in line with local laws, regulations and industrial practice. We measure, appraise and report performance, as part of our commitment to the health and safety of our employees, contractors and everyone who works on or visits our sites. We should take such steps as are reasonably practicable, to ensure that they meet our health and safety objectives. These are –
- To provide and maintain safe and healthy working places and systems of work in order to protect all company personnel and others, including visitors and the public, in so far as they come into contact with foreseeable work hazards.
- To provide and maintain a safe and healthy working environment for all Company personnel, taking into account individuals’ needs and abilities.
- To develop safety awareness amongst all Company personnel to enable them to take reasonable care for their own health and safety and of other people who may be affected by their acts or omissions.
Consumers
We are committed to providing consumers with high-quality, wholesome products which are marketed truthfully, labeled clearly, and, as a minimum, meet domestic and global quality and safety regulations.
Suppliers
The Company is confident that its suppliers desire to operate in an environment that is free from influence due to unethical business practices. Therefore, suppliers are expected to conduct business in a manner that would not, in any way, compromise the ethical principles adopted by the Company. To ensure this, the Company may convey its ethics requirements to its suppliers directly and also hold trainings and orientations for this purpose.
Competition and Trade Practice Standards
We are committed to free and open competition. We compete in market vigorously, but in an honest manner. Our efforts in the marketplace shall be conducted in a fair and ethical manner in strict compliance with applicable competition and trade practice laws and regulations. Under no circumstances shall any company personnel be a party to any collusion or concerted effort of any type involving any competitor vendor, supplier, customer or other party, which is in restraint of trade or violation of laws and regulations designed to foster competition. Because laws relating to competition are complex, company personnel should refer matters about what they are in doubt to their superior or should seek the advice of the company’s counsel or the Board, if so dictated by the significance of the uncertainty.
Company Personnel
It is the obligation of every employee to be a responsible employee; that is, to be honest, trustworthy, conscientious, and dedicated to the highest standards of ethical business practices. The company personnel have a legal, moral and ethical responsibility to report to the Company, or the appropriate authorities, any known or suspected violations of law, regulations, or corporate policy. The company personnel representing the Company to third parties shall not allow themselves to be placed in a position in which an actual or apparent conflict of interest exists. Such conflict of interest may arise, or appear to arise, by reason of the employees ‘ acceptance of gratuities, favors or other valuable benefits which could improperly influence or reasonably be interpreted as improperly influencing sound business decisions.
Integrity and Professionalism
The Company personnel should remember that they are a reflection on the Company and are constantly being judged or otherwise appraised by everyone they come in contact with. All Company Personnel should conduct themselves with the highest degree of integrity and professionalism in the workplace or any other location while on Company business.
Personal Conduct
The company personnel shall be careful while dealing with personal or business associates and not disclose, divulge or provide any information regarding the company to anyone except where the same is used as a part of his/ her official obligations and as required for official purpose and shall abide by the Closed period announced by the company from time to time and also sign a Non- Disclosure Agreement if the need arises. All company personnel should avoid any kind of bribery, extortion and all other forms of corruption. The company personnel should always be cognizant of the need to adhere strictly to all safety policies and regulations. Any legally prohibited or controlled substances if found in the possession of any company personnel will be confiscated and where appropriate, turned over to the authorities.
Accounting Records, Controls & Statements
All books, records, accounts and statements should conform to generally accepted and applicable accounting principles and to all applicable laws and regulations and should be maintained accurately. Company personnel are expected to sign only documents or records which they believe to be accurate and truthful. Employees are responsible for the proper use, protection and maintaining of company assets including intellectual property (e.g. patents, trademarks and designs). Company assets may only be used in relation to the Company’s business.
Community Activities
We recognize our responsibilities as a member of the communities in which we operate and commit resources to support community and social investment through national or locally targeted programs in partnership with others. We will also encourage and support employee efforts to be involved in and provide leadership in the educational and social fabric of the communities in which they live.
Protection of the Environment
The company personnel shall treat the protection of the environment as an integral factor in all decision making. The company is committed to the protection of the environment. To comply with this commitment, the company’s policy is to meet or exceed all applicable governmental requirements. Employees must report to their superior all circumstances in which toxic substances are spilled or released into the environment. Violations of environmental laws, even if unintentional, can carry severe penalties, and could result in the prosecution of the company or the employees involved or both. Failure to comply with the company’s instructions for the protection of the environment may result in disciplinary actions.
MISCELLANEOUS
All company personnel are required to comply with this code of conduct and are personally responsible for doing so. The company personnel must comply with any rules set out in this code of conduct. Breach of any principle within the code may result in disciplinary action and a serious breach – such as if any employee is found to be in wanton abuse of the code and their action cause reputational risk or damage or financial loss to the business – may amount to gross misconduct which may result in summary dismissal. Further, the company reserves the right to seek redress and damages from such individuals.
ENDORSEMENT
As required by the Listing Regulations, every person to whom this Code applies shall endorse the Code of the Company. The Company’s reputation and its actions as a legal entity depend on the conduct of the company personnel. Accordingly, each employee must commit to act according to the highest ethical standards and to know and abide by applicable laws. The Code will be enforced at all levels in the Organization fairly and with no exception.
WHISTLE BLOWING POLICY
- Unlawful civil or criminal offence
- Failure to comply with statutory obligations/requirements;
- Financial or non-financial mismanagement, fraud and corruption, including bribery
- Violation of various corporate policies-governing business conduct
- Violation of Health, Safety & Environmental standards applicable to the business
- Harassment, discrimination or other unfair employment practices
- Attempt to conceal or suppress information relating to the above
- E-mail – [email protected], which shall only be accessible to the Whistle blowing Unit
- Mail – Captioned ‘Whistle blowing Unit’ – Registered Office, A-18, S.I.T.E. Karachi’.
INVESTORS’ QUERIES / COMPLAINTS
Company Secretary
Amreli Steels Limited
Plot No. A-18, S.I.T.E Karachi – Pakistan
+92-21-111-267-354 (Ext: 599)
[email protected]
[email protected]
DISCLAIMER: “In case your complaint has not been properly redressed by us, you may lodge your complaint with Securities and Exchange Commission of Pakistan (“the SECP”). However, please note that SECP will entertain only those complaints which were at first directly requested to be redressed by the company and the company has failed to redress the same. Further, the complaints that are not relevant to SECP’s regulatory domain/competence shall not be entertained by the SECP.”
