Karachi: Members of Agriauto Industries Limited have been formally notified about the upcoming election of directors set to take place at the Annual General Meeting (AGM) scheduled for October 22, 2026. The meeting will be held at the Pearl-Continental (PC) Hotel in Karachi, with provisions for participation via video link.
In compliance with Section 159 of the Companies Act, 2017, eight candidates have filed their intention to contest for the seven available director positions. The candidates include Mr. Yutaka Arae, Mr. Fahim Kapadia, Mr. Hamza Habib, Mr. Sohail P. Ahmed, Mr. Muhammad Tayyab Ahmad Tareen, Mr. Aqueel E. Merchant, Mr. Sultan Rehman, and Ms. Aliya Saeeda Khan. The directors elected at this AGM will serve a term of three years.
The election process, particularly for selecting an independent director, is being conducted under the guidelines of Section 166 of the Act. The criteria for independent directors emphasize experience, competencies, diversity, skills, and knowledge, aligning with regulatory requirements.
Agriauto Industries Limited has facilitated voting through a postal ballot, allowing shareholders to cast their votes by mail. The registered office of the company, located at the 5th Floor, House of Habib, Shahrah-e-Faisal, Karachi, is the designated address for sending completed ballots. Shareholders are reminded that they can distribute their votes among the candidates or allocate all to a single candidate, provided the total votes do not exceed the available shares multiplied by the number of directors to be elected.
According to information available from the Pakistan Stock Exchange (PSX), Agriauto Industries Limited is positioned within the designated market category of the auto parts and accessories sector.
For further inquiries or to send the ballot papers, shareholders can contact the Chairman of Agriauto Industries Limited at the provided email address, [email protected]. The organization continues to prioritize transparency and shareholder engagement as it navigates this pivotal election process.