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Karachi: Century Paper and Board Mills Limited has notified its shareholders of the upcoming unopposed election of directors, scheduled for July 12, 2024, during the Extraordinary General Meeting at the PSX Auditorium, Karachi. The election notice, as stipulated under Section 159(4) of the Companies Act, 2017, details the candidacy of seven directors across various categories.
The candidates for the board positions include Mr. Iqbal Ali Lakhani, Mr. Amin Mohammed Lakhani, Mr. Babar Ali Lakhani, Ms. Anushka Lakhani as the sole female director candidate, Mr. Aftab Ahmad, and independent directors Mr. Ali Amir and Mr. Asif Qadir. Each candidate has formally expressed their intention to serve in their respective categories, in compliance with Section 159(3) of the Companies Act, 2017.
According to information available from the Pakistan Stock Exchange (PSX), the board has predefined the composition of the board for the next three-year term starting July 17, 2024. This includes one female director, two independent directors, and four other directors, as per the requirements of Regulation 7(A) of the Listed Companies (Code of Corporate Governance) Regulations, 2019.
Given the number of nominees matches the number of available positions, all candidates are set to be elected without opposition. Profiles of the nominees are available on the company’s website for shareholder review.