Lahore: Crescent Fibres Limited has announced an Extra Ordinary General Meeting (EOGM) scheduled for April 30, 2025, at 9:30 a.m. The meeting will take place at the company’s registered office located at 104-Shadman-1 in Lahore. The primary agenda includes the election of directors and approval of executive remuneration packages.

The Board has fixed the number of directors to be elected at seven, in accordance with section 159 of the Companies Act, 2017. The current directors, whose term is set to expire, are eligible for re-election. The candidates for the director positions are Mr. Humayun Maqbool, Mr. Imran Maqbool, Miss Hanya Maqbool, Mrs. Naila Humayun Maqbool, Mr. Mansoor Riaz, Sheikh Muhammad Ali Asif, and Syed Rizwan Husain.

In addition to the election, the meeting will address the special business of approving the remuneration for the company’s Chief Executive and Executive Director for the upcoming three-year term starting May 1, 2025. The proposed remuneration package includes an annual payment of Rs.8.30 million per individual, with a 10% annual increment and additional perquisites and retirement benefits that are allowable under the company’s rules.

According to information available from the Pakistan Stock Exchange (PSX), Crescent Fibres Limited operates within the designated market category of textiles, which involves the manufacturing and sale of yarn and other textile-related products. The decisions made in the upcoming EOGM are expected to influence the operational and financial strategies of the company significantly.