EFG Hermes Pakistan : Transmission of Annual Report for the Year Ended December 2021

EXPERIENCE FOCUS GROWTH

2021

Annual Report

Contents

02

Company Information

03

Vision & Mission Statements

21

Review Report to the Members on Statement of Compliance with the code of Corporate Governance

22

Independent Auditors' Report to the Members

04

Notice of Annual General Meeting

26

Statement of Financial Position

06

Profile of Board of Directors

27

Statement of Profit or Loss and Other Comprehensive Income

08

Chairman Review

28

Statement of Cash Flows

09

Directors' Report to the Members

29

Statement of Changes in Equity

18

Six Years at a Glance

30

Notes to the Financial Statements

19

Statement of Compliance with the code of Corporate Governance

Pattern of Shareholding

55

Annexure

Form of Proxy

Company Information

Board of Directors

Audit Committee

HR & R Committee

Company Secretary

Chief Financial Officer

Auditors

Legal Advisor

Share Registrar

Bankers

Registered Office

Lahore Branch

Website

Mr. Murad Ansari - Chairman

• * Mr. Ahmed Youssef - Director Mr. Mohamed Ebeid - Director

• * Mr. Mohamed Abdel Khabir - Director Mr. Fayyaz Ilyas - Director

• * Mr. Hayat Javed - Director

  Mr. Osman Ashgar - Director (resigned on 02-07-2021)

• * Mr. Danish Iqbal - Director

  Ms. Sarah Maja - Director

  Mr. Freyan Byram Avari - Director

• * Mr. Ahmed El Khamissy - Director Mr. Johannes Gunnell - Director

• * Mr. Asad Shafqat - Director

  Mr. Saad Iqbal - CEO & Director

  Mr. Johannes Gunnell - Chairman Mr. Fayyaz Ilyas - Member

  Ms. Sarah Maja - Member

• * Mr. Ahmed El Khamissy - Member Mr. Freyan Byram Avari - Member

  Mr. Freyan Byram Avari - Chairman Mr. Mohamed Ebeid - Member Ms. Sarah Maja - Member

• * Mr. Hayat Javed - Member

  (* Removed due to election of Directors on 25-05-2021)

  Mr. Shahid Kamal

  Mr. Ahmad Zakir Hafeez

  M/s. Riaz Ahmad, Saqib, Gohar & Company Chartered Accountants 5-Nasim, C.H.S. Major Nazir Bhatti Road,

  Off: Shaheed-e-Millat Road, Karachi, Pakistan.

  M/s. Mohsin Tayebaly & Co. (MTC)

  1st Floor, Dime Centre, BC-4, Block 9, Kehkshan, Clifton, Karachi, Pakistan.

  M/s. F. D. Registrar Services (SMC-Pvt.) Limited Office No. 1705-A, 17th Floor, Saima Trade Tower, I.I. Chundrigar Road, Karachi, Pakistan.

  MCB Bank Limited

  Bank Alfalah Limited Askari Bank Limited United Bank Limited Allied Bank Limited Bank Al Habib Limited

  Habib Metropolitan Bank Limited Standard Chartered Bank Limited Habib Bank Limited

  JS Bank Limited Meezan Bank Limited

  Office No. 904, 9th Floor, Emerald Tower,

  Plot No. G-19, Block-5, Clifton, Karachi, Pakistan

  319 Siddiq Trade Centre, 72 Main Boulverad, Gulberg, Lahore, Pakistan www.efghermespakistan.com

3

Our vision

is to develop EFG Hermes Pakistan on a professional basis - stemming from EFG Hermes' guiding principles in order to become the leading market player in the financial services sector and a valued contributor in the development of financial markets. We seek to create and maximize stakeholders' value by constantly trying to remain ahead of the market's perspective. We aim to work as a partner to help in attaining the best results for our clients.

Our mission

is to contribute to the ideal growth of the Pakistani capital market. We are committed to being a best-in-class intermediary with the highest ethical principles in order to provide clients with the best execution services and innovative products.

2021

Annual Report

4

Notice is hereby given that 23rd Annual General Meeting of the Members of EFG Hermes Pakistan Limited ('the Company') will be held on Monday, April 25, 2022 at 4:00 pm at ICAP Auditorium, Chartered Accountants Avenue, Clifton, Karachi and through webinar/video link arrangement; to transact the following businesses:

• 1. To confirm the minutes of the Extraordinary General Meeting of the Company held on May 25, 2021;

• 2. To receive, consider, approve and adopt the audited financial statements of the Company for the financial year ended December 31, 2021, together with the Directors' and Auditors' Reports thereon;

• 3. To appoint Statutory Auditors of the Company for the financial year ending December 31, 2022 and to fix their remuneration. The present auditors, being eligible, have offered themselves for re-appointment.

• 4. To transact any other business with the permission of the Chair.

  Considering continued covid-19 situation members are informed that the webinar/video link facility is also available and those who want to attend physically should follow strict SOPs as advised by the Government. For the wellbeing of the members, please try to avoid large gathering under consolidated proxies. For details read below notes.

By order of the Board

SHAHID KAMAL

Karachi: April 04, 2022 Company Secretary

NOTES:

• 1. The Share Transfer Books of the Company will remain closed for the period from April 18, 2022 to April 25, 2022 (both days inclusive) and no transfer of shares will be accepted for registration during this period. Transfers received in order at the Office of Company's Share Registrar M/s. F.D. Registrar Services (Private) Ltd, Office #1705, 17th Floor, Saima Trade Tower A, I.I. Chundrigar Road Karachi, Pakistan ('Registrar') at the close of business on April 15, 2022 the last working day before the start of book closure date will be considered in time to attend and vote at the Meeting.

• 2. Due to continued Covid-19 situation, considering safety and health of the member, we have video link/webinar facility and who want to avail said facility must send their particulars (Name, copy of CNIC, Folio number, cell number through email at [e-mail] at least 48 hours before the time of meeting. After due verification of the said particulars a video link/ user id & password will be sent through email for connecting the meeting.

• 3. A member of the Company entitled to attend and vote at this meeting, may appoint another person as his/her proxy to attend and vote instead of him/her. Proxies, in order to be effective, must be received at the Registered Office of the Company not less than 48 hours before the time for holding the meeting.

• 4. CDC shareholders entitled to attend and vote at the meeting must bring his/her Participant ID and Account/Sub-Account number along with original CNIC or original passport to authenticate his/her identity. In case of Corporate entity, resolution of Board of Directors/Power of Attorney with specimen signature of the nominee shall be produced (unless provided earlier) at the time of the meeting.

• 5. For appointing the proxy; CDC shareholders shall submit the proxy form as per above requirements together with attested copy of CNIC or Passport of the beneficial owner and proxy. In case of corporate entity, the Board of Directors' resolution/power of attorney, along with the specimen signature of the nominee, shall be submitted along with the proxy form to the Company.

2021

Annual Report

NOTICE OF 23RD ANNUAL GENERAL MEETING