Karachi: Al-Ghazi Tractors Limited has announced a change in its board of directors, with immediate effect, according to a company statement released on October 20, 2023. The company has informed that Mr. Malik Ehtisham Ikram has stepped down from his position as Director. In his stead, Mr. Paul Terence Wagstaff has been appointed to fill the casual vacancy for the remaining term of the board.

Al-Ghazi Tractors Limited, which operates under the designated market category in the agricultural machinery sector, has requested the Pakistan Stock Exchange to notify the TRE Certificate Holders about this change. This development follows the standard procedure for board appointments and vacancies, as stipulated by the company's governance policies.

According to information available from the Pakistan Stock Exchange (PSX), the notification of the change was made in compliance with regulatory requirements. The exchange is responsible for ensuring that all market participants are duly informed of significant changes within publicly listed companies.

Mr. Wagstaff's appointment is effective immediately, and he will serve as Director for the remainder of the board's term. The company has not disclosed any further details regarding the reasons for Mr. Ikram's departure or Mr. Wagstaff's professional background at this time.