Karachi: K-Electric Limited (KEL) has announced that it is unable to conduct its scheduled Election of Directors on July 29, 2025, due to legal restrictions imposed by the High Court of Sindh and the Securities and Exchange Commission of Pakistan (SECP). The company cited an Ad-Interim Order from the High Court dated October 21, 2022, and directives from the SECP dated November 8, 2022, which prevent any alterations in the Board of Directors' composition.

The company has informed the Registrar of Companies, under the mandates of Section 158(1) of the Companies Act, 2017, about the impediments faced in holding the elections. The communication stresses the company's legal inability to proceed with the election due to these binding directives.

K-Electric Limited remains committed to fulfilling all legal and regulatory obligations. As part of this commitment, the company has engaged with the SECP and plans to seek further guidance from the court to determine the next steps, given the nearing expiration of the current Board's term.

According to information available from the Pakistan Stock Exchange (PSX), K-Electric has also reached out to Trading Right Entitlement (TRE) Certificate Holders to communicate the current situation and ensure transparency in the process.

The company intends to continue its dialogue with regulatory bodies to resolve the matter while ensuring compliance with the Companies Act, 2017.