Lahore: Suraj Cotton Mills Limited has announced the uncontested election of its board of directors, scheduled to take place at the company's Extraordinary General Meeting on March 27, 2025. This development follows a prior notice issued on March 5, 2025, informing stakeholders of the upcoming meeting.

The company has communicated the election notice under Section 159(4) of the Companies Act, 2017, to shareholders through nationwide publications. The meeting is set to occur at the company's registered office in Lahore and will also be accessible via electronic means and video-link facilities.

The candidates for directorship positions include Khalid Bashir, Asif Bashir, and Muhamad Iqbal as non-executive directors. Ahsan Bashir and Adil Bashir have been listed as executive directors. The list of independent directors comprises Shams Rafi and Maheen Hisham Adamjee, selected per criteria under section 166 of the Companies Act, 2017, and regulations issued thereafter. Their names appear in the data bank maintained by the Pakistan Institute of Corporate Governance.

According to information available from the Pakistan Stock Exchange (PSX), the number of candidates standing for election in each category does not exceed the fixed number of directors set by the Board under Section 159(1) of the Companies Act, 2017, and Regulation 7A of the Listed Companies (Code of Corporate Governance) Regulations, 2019. Consequently, the seven listed candidates are deemed elected unopposed for a term of three years.

Suraj Cotton Mills Limited falls under the designated market category of the Pakistan Stock Exchange, reflecting its compliance with prevailing corporate governance standards. The company has advised TRE Certificate Holders of the Exchange about these developments accordingly.