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Karachi: Artistic Denim Mills Ltd, a leading textile manufacturer, has provided a notice of the election of directors as per the requirements of Section 159(4) of the Companies Act, 2017. The election is scheduled for November 15, 2023, and will be disclosed to the TRE Certificate Holders of the Exchange. An announcement about the publication of this notice will appear in the “Business Recorder” and “Daily Dunya” on November 07, 2023.
The company has notified its shareholders that seven individuals have expressed their consent to be elected as directors at the upcoming Extra Ordinary General Meeting. The candidates include Mr. Muhammad Paisal Ahmed, Mr. Muhammad Iqbal Ahmed, Mr. Muhammad Yousuf Ahmed, Ms. Zahra Faisal Ahmed, Mr. Yazdani Zia, Mr. Muneer Ahmed, and Mr. Muhammad Ozair Qureshi. Mr. Yazdani Zia and Mr. Muneer Ahmed are marked as independent directors, chosen based on their diverse experience and skills, in line with Section 166 of the Companies Act, 2017.
According to the announcement, since the number of individuals offering themselves for election does not exceed the number fixed by the Board, all seven candidates will be automatically elected to the Board for a three-year term commencing November 23, 2023.