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Lahore: Agritech Limited has issued a notice for the election of directors, scheduled for July 22, 2024, to be conducted in Lahore and via video link, in compliance with Section 159(4) of the Companies Act, 2017.
The elections will fill positions across three categories: one female director, two independent directors, and eight other directors. Candidates have been announced, with Ms. Minahil Mohsin Naqvi standing unopposed as the female director, thereby deeming her elected as per the company’s regulations. In contrast, the categories for independent and other directors will see contested elections due to the number of candidates exceeding the available positions. According to information available from the Pakistan Stock Exchange (PSX), the profiles and justifications for these candidates can be accessed on Agritech’s official website.
The voting procedure is detailed in the notice, allowing members to vote by the number of shares they hold multiplied by the directors to be elected in each category. Members can distribute their votes among the candidates in any way they choose within each category. The voting process includes provisions for postal votes and electronic voting, with e-voting open from July 19, 2024 until July 21, 2024.
Additionally, M/s. Qadeer and Company, Chartered Accountants, have been appointed as scrutineers to oversee the election process, ensuring compliance with both the Companies Act and the Companies (Postal Ballot) Regulations, 2018.