Saif Textile Mills Limited Announces Extraordinary General Meeting for Director Elections

Peshawar, Saif Textile Mills Limited has scheduled an Extraordinary General Meeting (EGM) for March 31, 2024, at 11:00 a.m. at its registered office in APTMA House, Tehkal Payan, Jamrud Road. The meeting aims to address key company matters, including the confirmation of minutes from a previous meeting held on November 24, 2023, and the election of eight directors for a three-year term as stipulated by the company’s board and the Companies Act, 2017.

The directors up for election include Mr. Osman Saifullah Khan, Ms. Hoor Yousafzai, Mr. Assad Saifullah Khan, Mr. Sohail Hussain Hydari, Rana Muhammad Shafi, Mr. Rashid Ibrahim, and Mr. Muhammad Danish. These candidates are current directors of the company and are eligible to file nominations for the upcoming term.

In compliance with regulatory directives, the company has outlined procedures for shareholders intending to attend the EGM virtually. Shareholders must submit identification and shareholder information to the company secretary at least 48 hours before the EGM. The company also clarified the process for shareholders wishing to contest the election of directors, including the submission of a notice of intention and supporting documents to the company’s registered office 14 days prior to the EGM.

The notice further details the closing of the Shares Transfer Books from March 23, 2024, to March 31, 2024, and emphasizes the importance of shareholders updating their contact information and complying with the Securities and Exchange Commission of Pakistan’s guidelines regarding director elections and member representation at meetings.

Saif Textile Mills Limited has made provisions for e-voting or postal ballot in the event that the number of candidates exceeds the available director positions, ensuring all shareholders have the opportunity to participate in the governance of the company.