Karachi: Security Papers Limited has announced the adjournment of its 9th Extraordinary General Meeting (EOGM), initially held on February 21, 2025, due to ongoing legal proceedings. The meeting is scheduled to reconvene on March 1, 2025, at 10:00 a.m.

The announcement came during the EOGM, where the chairman informed shareholders that the meeting notice had been circulated to members on January 31, 2025, and published in newspapers. The delay follows an order from the Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP), which classified Security Papers Limited as a listed Public Sector Company. This order, received on February 10, 2025, prompted the company to appeal the decision before the Sindh High Court (SHC).

According to information available from the Pakistan Stock Exchange (PSX), Security Papers Limited disclosed this material information to the PSX on February 11, 2025. The company cited the ongoing legal challenge as the reason for adjournment, aligning with Article 44 of its Articles of Association.

The resolution to adjourn the meeting was passed with member consent, stipulating that no additional notice is required for the reconvened meeting, as it will occur within ten days of the adjournment. The decision underscores the company's commitment to addressing the legal implications of the SECP's order before proceeding with the EOGM's agenda.