Dadabhoy Construction Technology Reschedules General Meeting Amid Compliance Issues

Karachi: Dadabhoy Construction Technology Ltd. has postponed its scheduled General Meeting from September 21, 2024, to October 14, 2024, following emergent board deliberations. The decision came after a Pakistan Stock Exchange (PSX) communication on September 19, 2024, which pointed out several compliance discrepancies.

The emergency board meeting, convened swiftly on September 20, 2024, assessed the issues raised by PSX. In response, the directors opted to adjourn the planned General Meeting to ensure full compliance with the Company Law 2017 and the pertinent regulations in the PSX Rule Book. According to information available from the Pakistan Stock Exchange (PSX), the board’s decision underscores the company’s commitment to adhering to regulatory standards and maintaining corporate governance.

The company has announced that a 21-day clear notice will be given to all entitled parties, which will align with the regulatory requirements for filings and compliance. This rescheduling aims to provide ample time for the company to address the non-compliances and prepare adequately for the General Meeting.

Members of the exchange and shareholders are being notified of the change in schedule and the reasons behind the adjournment, ensuring transparency and accountability in the company’s dealings with its stakeholders.

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