Karachi: Ghandhara Automobiles Limited has formally announced the election of directors at its forthcoming Extraordinary General Meeting (EGM), which is scheduled for February 4, 2025, at 10:30 A.M. The meeting will take place at the company's head office located at F-3, Hub Chowki Road, S.I.T.E., Karachi. This announcement, made under Section 159(4) of the Companies Act, 2017, was published on January 28, 2025, in leading newspapers "Dawn" and "Khabrain".
In accordance with Regulation No. 5.6.9 (b) of the Rule Book of Pakistan Stock Exchange Limited, Ghandhara Automobiles Limited has submitted a notice to inform the TRE Certificate Holders of the Exchange. The notice lists the candidates who have expressed their intention to stand for election as directors at the upcoming EGM. The list includes individuals from various categories, including other directors, female directors, and independent directors.
The nominees for the position of directors are as follows: Lt. Gen. (Retd.) Ali Kuli Khan Khattak, Mr. Ahmad Kuli Khan Khattak, Mr. Muhammad Zia, Mr. Muhammad Saleem Baig, and Syed Haroon Rashid are nominated under the category of other directors. Mrs. Shahnaz Sajjad Ahmad has been nominated as a female director. The independent director nominees include Mr. Polad Merwan Polad, Mr. Asim Arshid, Mr. Salmon Rasheed (FCA), and Mr. Manzoor Ahmed.
According to information available from the Pakistan Stock Exchange (PSX), the market has shown keen interest in the upcoming elections, as the decisions made at the EGM could impact the strategic direction of Ghandhara Automobiles Limited. This event is critical for stakeholders as it will determine the composition of the board, which plays a pivotal role in the governance and future growth of the company.
Ghandhara Automobiles Limited, which operates within the designated market category of the automotive sector on the PSX, continues to be a significant player in the industry. Stakeholders are eagerly awaiting the results of the EGM, which will provide insights into the company’s future trajectory and strategic initiatives. The election is part of the company's ongoing commitment to maintaining transparency and adhering to corporate governance best practices.