Faisalabad: Chenab Limited, a prominent entity in the textile sector, has officially announced the election of its Board of Directors, aligning with the regulatory framework outlined by the Companies Act, 2017. This announcement is in compliance with the requirements of Section 159(4) of the Act, and the notice has been disseminated via the "Daily Business Recorder" and "Daily Jang" on January 21, 2025, ensuring that all certificate holders of the Pakistan Stock Exchange are well informed.

The election is scheduled to occur during the Extra Ordinary General Meeting of Chenab Limited, set for January 28, 2025, at the company’s registered office located in Nishatabad, Faisalabad. The individuals who have expressed their interest in serving as directors for the forthcoming three-year term include Mian Muhammad Latif, Mian Muhammad Javaid Iqbal, Mr. Muhammad Naeem, Mr. Muhammad Faisal Latif, Mrs. Sobia Chughtai (Nominee Director), Mr. Muhammad Salman Javed, Mr. Muhammad Hashim, Mr. Tariq Ayub Khan, and Mr. Maqsood-ul-Hassan.

According to information available from the Pakistan Stock Exchange (PSX), the number of directors set by the Board under Section 159(1) of the Companies Act, 2017, is nine. Notably, the number of candidates matches the fixed number of directors, leading to their automatic election without the need for a contested vote.

Chenab Limited, known for its significant contributions to the textile industry, continues to uphold its governance standards by ensuring the transparency and compliance of its Board elections. The designated market category for Chenab Limited remains within the textile sector, a critical component of Pakistan's industrial landscape. The upcoming election is a crucial step in maintaining the strategic direction and corporate governance of the company as it navigates future challenges and opportunities in the market.