Lahore: Hi-Tech Lubricants Ltd. has announced a change in its board of directors, effective February 25, 2025. According to a statement from the company, Mr. Wonjin Yoon, who served as a director as a nominee of SK Enmove Co. Ltd. (SKEN), has ceased his directorship. In his place, Mr. DongHyun Kim, also a nominee of SK Enmove Co. Ltd. (SKEN), has been appointed as the new director.

The announcement was made to inform the TRE Certificate Holders of the Exchange about this transition. Hi-Tech Lubricants Ltd. is a significant player in the designated market category and this change is poised to impact its governance structure.

According to information available from the Pakistan Stock Exchange (PSX), the alteration in the board's composition is part of the company's ongoing strategic decisions. The company did not provide further details about the reasons behind the change or any strategic plans related to Mr. Kim’s appointment.

The company has communicated this change per regulatory requirements, ensuring transparency and adherence to corporate governance norms.