Election of Directors Scheduled at Dost Steels Limited

Lahore: Dost Steels Limited has announced an Extraordinary General Meeting (EGM) to be held on September 19, 2024, to elect new directors as specified under Section 159(4) of the Companies Act, 2017. The meeting will take place in Lahore and via video link.

Members of Dost Steels Limited are set to elect directors under three distinct categories. The designated categories are for Female Director, Independent Directors, and Other Directors. Notably, one woman, Mrs. Nargis Abuzar Shad, has declared her candidacy in the Female Director category. In compliance with the stipulated requirements for this category, Mrs. Shad is considered unopposed and will therefore assume her role following the EGM.

In the Independent Directors category, two seats are available with Mrs. Saba Azam and Mr. Shafiq Ahmed Soomro competing. Both candidates are poised to fill these positions without contest, adhering to the guidelines outlined by the Companies Act, 2017.

However, the category for Other Directors presents a competitive scenario with seven candidates vying for four available positions. The candidates include Mr. Jamal Iftakhar Ahmed, Mian Abuzar Shad, Mr. Muhammad Azhar Chugtai, Mr. Naim Anwar, Mr. Shahab Mehboob Vohra, Mr. Suhail Elahi, and Mr. Zahid Iftakhar. According to information available from the Pakistan Stock Exchange (PSX), the election process for this category will be conducted in accordance with the current legislative framework to ensure fairness and transparency.

Profiles and justifications for each candidate are available on the company’s website, providing shareholders with necessary information to make informed decisions. This election marks a pivotal governance step for Dost Steels Limited, reflecting the company’s commitment to regulatory compliance and strategic leadership.