Amreli Steels Limited Adjusts Director Elections Following Candidate Withdrawal

Karachi: Amreli Steels Limited has announced adjustments to its upcoming director elections following the withdrawal of a candidate from the “Other Directors” category.

According to information available from the Pakistan Stock Exchange (PSX), the company initially published a notice on July 23, 2024, under Section 159(4) of the Companies Act, 2017, concerning the election of directors scheduled for an Extraordinary General Meeting on July 30, 2024. However, a recent development has shifted the election dynamics: Mr. Muhammad Kamran Saleem, a candidate in the “Other Directors” category, has voluntarily withdrawn his consent to run for election.

As a result of Mr. Saleem’s withdrawal, the number of candidates in the “Other Directors” and “Independent Directors” categories no longer exceeds the number set by the board. Therefore, the election will proceed with candidates in these categories being elected unopposed. The only contested election will be for the “Female” category, where Ms. Mariam Akberali and Ms. Nilofer Habib Shadan will vie for the position.

The company has updated its members and the market by publishing an addendum to the original notice in The Daily Dawn and The Daily Express, detailing the revised list of candidates and the election process. Members are invited to download the revised postal ballot from the company’s website to participate in the voting process.

This adjustment ensures that Amreli Steels Limited adheres to corporate governance requirements while accommodating unforeseen changes in candidate participation.