Board of Panama Petrochem approves change in directorate

At meeting held on 26 May 2025

The Board of Panama Petrochem at its meeting held on 26 May 2025 has approved the following change in directorate:

Pursuant to the Company's succession planning framework, Amirali Rayani has stepped down from the position of Chairman of the Company, effective from the close of business hours on July 31, 2025. He will, however, continue to serve as a member of the Board. Accordingly, Arif Rayani, Executive Director, (DIN: 00245647), has been re-designated as the Chairman of the Company, w.e.f. 01 August 2025.

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