JDW Sugar Mills Announces Director Elections Under Companies Act

Karachi: JDW Sugar Mills Limited has issued notices for the upcoming election of directors, scheduled during an Extra-Ordinary General Meeting (EOGM) on November 1, 2024, as per a document dated October 23, 2024. This announcement adheres to the regulatory requirements outlined in Section 159(4) of the Companies Act, 2017.

According to the notification sent to the Pakistan Stock Exchange (PSX) and detailed in the company’s correspondence, seven candidates have been slated for election to the board of directors. The nominees include Mrs. Samira Mahmud for the position of Female Director and Mr. Asim Nisar Bajwa and Mr. Zafar Iqbal as Independent Directors. Additionally, Syed Ahmad Mahmud, Syed Mustafa Mahmud, and Mr. Ijaz Ahmed are listed as other directors.

The candidates are chosen based on their diverse skills and competencies, aligning with the requirements of Section 166 of the Companies Act. The profiles of all candidates are accessible on the company’s official website for shareholders’ review. According to information available from the Pakistan Stock Exchange (PSX), since the number of candidates matches the seats available, these nominations are expected to be formally elected at the forthcoming EOGM, unless an adjournment is announced.

The notices of this election will be published in both Urdu and English in the “Daily Nawa-e-Waqaft” and “Pakistan On 23 Oct 2024” respectively on October 24, 2024. The board has already informed the TRE Certificate Holders of the developments.

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