Karachi: Ecopack Limited has announced significant changes to its board of directors, including the resignation of three members and the appointment of three new directors, effective as of mid-September 2024. These changes comply with the regulatory framework set by the Pakistan Stock Exchange (PSX) under Clause 5.6.1 (a).

On September 18, 2024, the company received resignation letters from Mr. M. Junaid Hameed Dagia, an Independent Director; Mr. Arif Ahmed Siddiqui; and Mr. Omer Tariq. The following day, the Board convened an emergent meeting where these resignations were accepted through a formal resolution.

During the same meeting, the Board took immediate action to address the vacancies created by these resignations. Ecopack co-opted Mr. Zohair Ashir as an Independent Director, alongside Mr. Asad Ali Sheikh and Mr. Ali Jamil, effectively filling the newly opened board positions.

According to information available from the Pakistan Stock Exchange (PSX), this swift reorganization aligns with Ecopack Limited’s compliance obligations and governance standards, ensuring continuity in leadership and strategic oversight. The changes also underscore the company’s responsiveness to maintaining a balanced and effective board composition, crucial for its ongoing operations and governance.

These directorial changes are expected to be communicated to all members of the PSX, further adhering to the transparency requirements of the market.