Karachi: Fecto Cement Limited has scheduled the election of its directors for October 28, 2024, during the 43rd Annual General Meeting at Karachi. The announcement follows the company’s recent compliance with the Pakistan Stock Exchange guidelines under Section 159(4) of the Companies Act, 2017.

The nominees, who will serve a three-year term if elected, include both returning directors and new candidates across various categories. The current list features Mr. Mohammed Yasin Fecto, Mr. Juwad Saboor, and Mr. Aamir Ghani as executive directors. Mr. Mohammad Anwar Habib and Mr. Jamil Ahmed Khan are the independent directors, while Ms. Lubna Yasin Fecto is nominated as a non-executive director.

According to information available from the Pakistan Stock Exchange (PSX), Mr. Rohail Ajmal, representing Saudi Pak Industrial and Agriculture Investment Company Limited, is also nominated, highlighting the board’s strategy to integrate diverse international business perspectives. This addition is set to enhance the board's strength, as Mr. Ajmal’s term will extend beyond this election cycle to seven years as stipulated by Section 154(4) of the Act.

The election process and candidate profiles adhere to the criteria outlined in Section 166 of the Companies Act, which prioritizes expertise, qualifications, and regulatory compliance. Detailed biographies of the candidates are available on the Fecto Cement website.