Karachi: Dewan Textile Mills Limited has announced the uncontested election of directors for a three-year term, scheduled to be formalized at the upcoming Extraordinary General Meeting (EGM) on January 27, 2025. This announcement, made under Section 159(4) of the Companies Act, 2017, follows the publication of notices in both English and Urdu newspapers.

According to the notice, the company has received expressions of interest from seven individuals who have filed their intent to contest and be elected as directors, aligning with the number of director positions available as set by the Board of Directors. The candidates standing for election are Mr. Ashfaq Ahmad, Mr. Syed Maqbool Ali, Mr. Syed Asim Abid Ali, Mr. Abdul Basil, Mr. Ghazanfar Bober Siddiqi, Mr. Aziz-ul-Haque, and Mrs. Nida Jamil.

Since the number of candidates is equal to the number of positions on the board, these individuals are set to be deemed elected without contest. The formalities will be completed at the forthcoming EGM.

According to information available from the Pakistan Stock Exchange (PSX), Dewan Textile Mills Limited operates within the designated market category of textiles. This sector remains crucial to Pakistan's economy, with companies like Dewan Textile playing a significant role in the industry.

The upcoming election is expected to ensure continued leadership stability within the company, supporting its strategic objectives and growth in the competitive textile market.