Lahore: Kot Addu Power Company Limited held its 12th Extraordinary General Meeting on October 2, 2024, introducing significant amendments to its corporate governance structure and confirming new director appointments, effective immediately.

During the meeting, several pivotal resolutions were passed. The minutes from the previous Annual General Meeting (AGM) on October 24, 2023, were confirmed. Notably, the company resolved to delete Article 41(i) of its Articles of Association and amend Article 52.1, adjusting the guidelines for the minimum and maximum number of directors. According to the newly adopted resolution, the board shall comprise no fewer than seven directors, and these changes are to be fixed with prior approval before any general meeting concerning elections.

Furthermore, the company has empowered and authorized its Company Secretary to perform all necessary acts, deeds, and things in relation to the updated corporate matters, enhancing operational flexibility.

According to information available from the Pakistan Stock Exchange (PSX), the appointment of eight directors was also confirmed, who will serve for the next three years. These include Lt. General (Retd) Sajjad Ghani, Mr. Aqeel Ahmed Nasir, Mr. Saad Iqbal, Mr. Naveed Asghar Chaudhry, Mr. Jamil Akhtar, Mr. Hafiz Mohammad Yousaf, Ms. Mahwish Humayun Khan, and Mr. Khawaja Khalil Shah, with the latter three serving as independent directors.

The company, headquartered in Lahore, continues to adapt its governance framework to align with evolving corporate and legal standards, thereby ensuring robust management and operational oversight. This strategic approach is designed to enhance stakeholder value and sustain its growth trajectory in the competitive power sector.