Karachi: The Board of Directors of 786 Investments Limited held an Extraordinary General Meeting (EOGM) on July 3, 2024, in Karachi, where several critical decisions were taken regarding the company’s leadership and operational headquarters.

The meeting's agenda primarily focused on confirming the minutes from the previous Annual General Meeting held on October 21, 2023, and more crucially, the election of seven directors to the Board for a three-year term starting from July 30, 2024. The directors elected are Mr. Ahmed Salman Munir, Syed Shabahat Hussain, Ms. Tara Uzra Dawood, Mr. Iqbal Shafiq, Mr. Naveed Ahmed, Syed Musharaf Ali, and Mr. Ahmer Zia Sarwar. According to information available from the Pakistan Stock Exchange (PSX), these appointments are subject to approval from the Securities and Exchange Commission of Pakistan under the Insurance Companies Sound and Prudent Management Regulations, 2012.

Additionally, the meeting approved the relocation of the company's head office from Lahore to a new address in Multan, Punjab. Starting July 8, 2024, the new address will be 1649, Shopping Center #3, Aziz Shaheed Road, Mall Plaza Chowk, Mall Rd, Multan Cantt Commercial Area, Multan, Punjab. This move is part of the company's strategic realignment to better serve its operations and stakeholders.

Another significant decision made during the EOGM was the appointment of Mr. Abrar Ahmed Cheema as the Chairperson of the company, effective immediately from the date of the meeting.

The share transfer books of the company will remain closed from July 23, 2024, to July 30, 2024, to facilitate these transitions. All transfers received by the company's share registrar, FD Registrar Services (Pvt.) Ltd, by the close of business on July 23, 2024, will be eligible for voting at the meeting.

In compliance with the regulatory framework, individuals aiming to contest in the election of directors were required to submit their intentions along with necessary documentation, including consent to act as director and a detailed profile, at least fourteen days before the meeting.

The decisions from this EOGM reflect 786 Investments Limited’s commitment to maintaining robust governance standards and aligning its strategic operations with shareholder interests and regulatory requirements.