Peshawar: Cherat Cement Company Ltd. has informed its TRE Certificate Holders and shareholders about the upcoming election of directors, scheduled to take place at the Annual General Meeting on October 16, 2024. This key corporate governance event will be held at the company's factory premises in Village Lakrai, Nowshera, Khyber Pakhtunkhwa.

In compliance with Section 159(4) of the Companies Act, 2017, the election will feature eight candidates vying for the board of directors. These candidates include Mr. Omar Faruque, Mr. Azam Faruque, Mr. Akbarali Pesnani, Mr. Arif Faruque, Mr. Abrar Hasan, Mrs. Zeeba Ansar, Mr. Yasir Masood, and Mr. Ariful Islam. Notably, Mrs. Zeeba Ansar is designated as both a female and independent director, while Mr. Abrar Hasan and Mr. Ariful Islam are contesting as independent directors.

According to information available from the Pakistan Stock Exchange (PSX), the nominees have been selected based on their diverse experience, competencies, and knowledge, fulfilling the stringent requirements of Section 166 of the Companies Act, 2017, as well as related regulations. Their profiles and detailed qualifications are now accessible on the company's official website.

The election's outcome is poised to be straightforward as the number of candidates does not exceed the board's predetermined number of seats, allowing all nominees to be elected unopposed if no further candidates emerge or objections are filed under Section 159(3) concerning female directors.

This announcement of the upcoming director elections not only underscores Cherat Cement's adherence to corporate governance norms but also highlights the strategic preparations ahead of the significant annual congregation of its stakeholders.