Karachi: Saif Textile Mills Limited has announced the resignation of Mr. Rashid Ibrahim from its Board of Directors, effective May 19, 2025. The company has not yet disclosed a successor but stated that the Board of Directors will address the vacancy in due course.

Saif Textile Mills Limited is a key player in the textile sector, which is a significant component of the designated market category. The company has assured stakeholders, including TRE Certificate Holders, that the necessary procedures will be followed to ensure a seamless transition.

According to information available from the Pakistan Stock Exchange (PSX), Saif Textile Mills Limited regularly updates its shareholders and market participants about significant corporate developments. The resignation of a director is a notable event that will be communicated to the relevant parties as per regulatory requirements.

The company has expressed its appreciation for Mr. Ibrahim's service and contribution during his tenure. Further announcements regarding the filling of the vacancy are expected to be made in alignment with the company's governance practices.