Lahore: Adamjee Insurance Company Limited has announced the unopposed election of its new board of directors, set to serve for the upcoming three-year term. This follows the submission of candidacies for the role of director, in accordance with the requirements outlined in Section 159 (4) of The Companies Act, 2017. The Extraordinary General Meeting, where the formalities of the election are expected to be completed, is scheduled for May 28, 2025.

The candidates who have filed for the position of director include Mr. Mohammad Azeem Rashid and Mrs. Maha Rehman, both serving as independent directors. Other candidates are Mr. Ibrahim Shamsi, Mr. Imran Maqbool, Mr. Shaikh Muhammad Jawed, Mrs. Sadia Younas Mansha, and Mr. Umer Mansha. The total number of candidates matches the number of director positions available, which is set at seven as per Section 159 (1) of The Companies Act, 2017. Consequently, the listed candidates are deemed elected without opposition.

According to information available from the Pakistan Stock Exchange (PSX), the election process is conducted in alignment with regulatory frameworks ensuring transparency and adherence to statutory requirements. The election is a significant event in the designated market category of insurance, marking a key governance transition for one of the prominent players in the sector.

The newly elected directors, having fulfilled the necessary procedural requirements, will assume their roles officially following the formal conclusion of the Extraordinary General Meeting. This development is anticipated to shape the strategic direction of Adamjee Insurance Company Limited as it navigates future industry challenges and opportunities.