ISLAMI BANK BANGLADESH LIMITED

PROJECT INVESTMENT DIVISION

HEAD OFFICE, DHAKA

Board Memo No.2008/ Date: 26.08.2008

Sub: Proposal for changes in the Management of the company-A/c. M/s. Noman Composite Textile Ltd., a
client of Paltan Branch, Dhaka.
A. Background:
M/s. Noman Composite Textile Ltd., a 100% export oriented spinning mills is an allied concern of Noman
Group. The sponsors of the project have gathered sufficient experience in this line of business. They are
qualified and resourceful persons and also from same family. The group has been availing investment facility
since-1999 with satisfactory performance.
The EC in its 1295th meeting held on 26.12.2007 sanctioned HPSM (Project) investment limit of Tk. 650.00
million to set up home textile project with used/new machinery for a period of 6 (six) years excluding
gestation period of 12 (twelve) months.
Existing Managing Director and Director Jb. Md. Aziz Uddin and Md. Zahidur Rahman have resigned from
their position for personal reason (they are going abroad for higher education) and transferred their entire
shares to Jb. G. M. Salahuddin & Md. Shamsul Islam Chowdhury. The transfer of shares was approved in the
client company’s Board meeting on 25.05.2008. The incoming Directors are existing Director of M/s. Saad
Saan Textile Mills Ltd., another concern of the client group.
B. Particulars of the Project:
01. Name of the client : M/s. Noman composite Textile Ltd.
02. Corporate office : 115-120, Adamjee Court Motijheel C/A, Dhaka.
03. Factory Address : Jamirdia, Bhaluka, Mymenshing
04. Constitution of the company : Private Limited Company.
05. Capital Structure
a. Authorized Capital : Tk.500.00 million
b. Paid-up Capital : Tk.0.25 million
06. Particulars of the Directors/shareholder:
Existing Management Proposed Management
Name Status in the Extent of Name Extent of Status in the
Company Interest Interest company
Md. Aziz Uddin, Managing 15% --- --- Resigned
S/o-Late Abdur Rashid. Director
Md. Zahidur Rahman, S/o- Director 15% ---- ---- Resigned
Md. Atiar Rahman Mollah.
---- ---- G. M. Salahuddin 15% Managing
---- S/o. Late Mohammod Director
Abdul Matin
---- ---- Md. Shamsul Islam 15% Director
---- Chowdhury
S/o. Late Abu Sayed
Nur-E-Yasmin Fatima D/o Share holder 10% Nur-E-Yasmin Fatima 10% Share holder
Md. Nurul Islam & Mrs. D/o Md. Nurul Islam &
Sufia Khatun Mrs. Sufia Khatun
Md. Abdullah Zaber S/o Share holder 10% Md. Abdullah Zaber S/o 10% Share holder
Md. Nurul Islam & Mrs, Md. Nurul Islam & Mrs,
Sufia Khatun Sufia Khatun
Md. Nurul Islam Share holder 10% Md. Nurul Islam 10% Share holder
S/o Late Md. Ismail S/o Late Md. Ismail
Mrs. Sufia Khatun W/o Share holder 10% Mrs. Sufia Khatun W/o 10% Share holder
Md. Nurul Islam Md. Nurul Islam
A.S.M. Rafiqul Islam S/o Share holder 10% A.S.M. Rafiqul Islam S/o 10% Share holder
Md. Nurul Islam Md. Nurul Islam

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 Md. Abdullah Zubair S/o Share holder 10% Md. Abdullah Zubair S/o 10% Share holder
Md. Nurul Islam Md. Nurul Islam
Share holder 10% Abdullah Mohammed 10% Share holder
Abdullsh Mohammed
Talha S/o Md. Nurul
Talha S/o Md. Nurul Islam
Islam
Total 100% 100%
07. Nature of the Business : Home Textile
08. Capacity : 2,55,36,000 metre fabrics/year (240 sets Air Jet Looms)
09. Liability of the client: (Tk. in Million)
Outstanding
Name of the concerns Mode Limit Net Gross Remarks
M/s. Noman composite HPSM (Project) 454.29 454.29
Under gestation
Textile Ltd. 650.00 period*
L/C (Machinery) 213.84 213.84
Total 650.00 668.13 668.13
* Gestation period will expire on 07.05.2009
C. Value of security:
Land : Tk. 69.72 million
Construction : Tk. 251.77 million
Machineries : Tk. 701.06 million
Total : Tk. 1022.55 million
D. Recommending Authority:
The EC in its 1330th meeting held on 26.08.2008 discussed the above proposal and after detailed discussion
the EC recommended the proposal to the Board for approval (The sanctioning authority of the existing limit
is EC. However, as per requirement of Bangladesh Bank for correction of CIB data base the Board approval
for change in management is required). A copy of EC Memo No. 2008/1644 dated 25.08.2008 is enclosed
for kind ready reference.
As recommended by the EC, the proposal is now placed before the Board of Directors for kind consideration
and if agreed, the following resolution may be adopted:
Resolution:
“Resolved that the proposal for changes in the Management of the company-A/c. M/s. Noman Composite
Textile Ltd., a client of Paltan Branch, Dhaka as under:
Existing Management Proposed Management
Name Status in the Extent of Name Extent of Status in the
Company Interest Interest company
Md. Aziz Uddin, Managing 15% --- --- Resigned
S/o-Late Abdur Rashid. Director
Md. Zahidur Rahman, S/o- Director 15% ---- ---- Resigned
Md. Atiar Rahman Mollah.
---- ---- G. M. Salahuddin S/o. Late 15% Managing
----
Mohammod Abdul Matin Director
---- ---- Md. Shamsul Islam Chowdhury 15% Director
----
S/o. Late Abu Sayed
Others Share holder 70% Others 70% Share holder
(Jb. Nurul Islam and his (Jb. Nurul Islam and his family
family members). members).
Total 100% 100%
under the terms & conditions as envisaged in the Memo be and is hereby approved.”

(M. FARIDUDDIN AHMAD)

MANAGING DIRECTOR

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