ANNOUNCEMENT TO EMPLOYEES of HAJI BABA GROUP LIMITED ( “COMPANY” ) and ITS SUBSIDIARIES
“We are pleased to officially announce that on 2 December 2021, the owners of the Haji Baba Group of Companies, Mr Nisar Malik and Mrs Nisma Malik, transferred ownership of the business to the Haji Baba Employee Ownership Trust, acting by its trustee, Haji Baba Trustee Limited. This transfer of ownership entails that the shares in the Company are now held for the exclusive benefit of all current and future employees of the members of the Group.
The restructuring of the company into a business with employee ownership is anticipated to serve as a driving force for the motivation and dedication of the employees in contributing to the continued success of the Group. By aligning their interests with those of other stakeholders, the employees will actively participate in the growth and prosperity of the Haji Baba brand, reaping personal benefits alongside broader organisational achievements.
While the past owners have divested their ownership, they shall continue to be attached with the group, in particular, Mr Malik, to play his role in managing the strategic affairs of all the Group Companies, ensuring the continuity of growth and prosperity of the Haji Baba brand. This arrangement will serve the common purpose of benefiting all employees, who will now collectively own the business.
At Haji Baba Group Ltd, we hold ourselves accountable to the highest standards of governance and are committed to transparency in all our dealings. Our team of dedicated trustees plays a pivotal role in guiding and safeguarding our organisation’s mission and values. With an unwavering focus on the betterment of our community and the relentless pursuit of excellence, our trustees diligently fulfil their duties in effectively managing our resources. Together, we strive to make a positive impact and create a brighter future for all.
We express our gratitude to all our stakeholders for their continued support and trust in the Haji Baba Group of Companies. This new phase of employee ownership marks an important milestone in our journey, and we are confident that it will usher in an era of shared success and prosperity.”