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Karachi: Investments Limited has announced that the candidates nominated for the board of directors will be deemed elected at the Extraordinary General Meeting (EGM) scheduled for July 30, 2024. This follows the submission of candidacy notices by seven individuals under Section 159(4) of the Companies Act, 2017.
According to information available from the Pakistan Stock Exchange (PSX), the candidates include Mr. Ahmed Salman Munir, Mr. Naveed Ahmed, Mr. Iqbal Shafiq, Mr. Syed Shabahat Hussain, Ms. Tara Uzra Dawood, Mr. Syed Musharaf Ali, and Mr. Ahmer Zia Sarwar. The election process will not involve voting since the number of candidates does not exceed the number of available director positions as outlined under Section 159(1) of the Companies Act, 2017.
This procedural outcome ensures a smooth transition and continuity in the governance of Investments Limited, with the board’s composition remaining stable for the upcoming term. The company has taken all necessary steps to comply with the legal requirements and to keep the shareholders informed as part of its commitment to transparency and good corporate governance.