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Saudi Pak Leasing Company Limited ("the Company") was incorporated in Pakistan on 08 January 1991 and is listed on Pakistan Stock Exchange. The registered office of the Company is situated at 6th Floor, Lakson Square Building No.1, Sarwar Shaheed Road, Saddar, Karachi. The main business activity of the Company is leasing of assets. The Company's license to carry out the business of leasing had expired on 18 May 2010 and its renewal is pending with the Securities and Exchange Commission of Pakistan (SECP). The Company has not been doing business of new leases since 2008. Saudi Pak industrial & Agricultural Investment Company Limited (SAPICO) is the parent company (by virtue of management rights) who along with the piracha group have been excercising exclusive control over management,organization and operations of the company since 1997. As of 30 June 2017 SAPICO holds 35.06% (30 June 2016; 35.06%) of issued ordinary share capital of the Company. Other major stakholders of Company include Piracha Group holding 9.48% (30 June 2016 : 9.2%) and Marine Group holding 2.02%(June 30,2016:2.02%) of issued ordinary share capital of the company. The new seven member Board of Directors duly elected in the AGM of the company held on march 22nd 2016, has yet to be made functional by the securities & Exchange Commission of Pakistan. Because of this delay, the company (SPLC) has been virtually made non-functional in terms of Operations, Organization and compliance with Regulations etc. As a consequence of this delay,some of the newly elected directors have filed a petition at High Court of Sindh which is under hearing with Honourable High Court of Sindh.
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