Karachi: Arctic Textile Mills Limited has announced a reshuffle in its board of directors, filling casual vacancies following the resignation of three directors. The company made this decision in compliance with the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance Regulations) 2019.

On October 23, 2023, the board accepted the resignations of Mr. Muhammad Amman Adil, Mr. Usman Mahmood, and Mrs. Sawa Affan. In their stead, Miss Areej Tariq, Mr. Zahid Ali, and Mr. Qasim have been appointed as new directors to serve the remaining tenure.

Miss Areej Tariq joins as a nominee of Beacon Impex (Pvt.) Ltd., replacing Mr. Muhammad Amman Adil. Mr. Zahid Ali and Mr. Qasim have been appointed as independent directors, filling the positions left vacant by Mr. Usman Mahmood and Mrs. Sawa Affan, respectively.

According to information available from the Pakistan Stock Exchange (PSX), these changes are part of the company's ongoing efforts to ensure compliance with governance regulations and maintain a robust leadership structure.

The company has advised informing the TRE Certificate Holders about these changes in its board of directors.