Lahore, Octopus Digital Limited has released a notice regarding the election of directors, scheduled for an Extraordinary General Meeting (EOGM) on June 8, 2024. The announcement follows the Company's adherence to section 159(4) of the Companies Act, 2017, which mandates the notification of director elections.

According to information available from the Pakistan Stock Exchange (PSX), the Company's board, in a meeting on April 30, 2024, decided that eight directors will be elected at the upcoming EOGM. The candidates have been categorized into "Female Category," "Independent Directors," and "Other Directors."

For the "Female Category," Ms. Saleha Asif is the sole candidate. In the "Independent Directors" category, candidates include Mr. Mohammad Shahid Mir and Mr. Mohammad Arif Janjua. Since the number of candidates in these categories matches the number of director slots available, they will be automatically deemed elected at the EOGM, as per Section 159(5) of the Companies Act.

The "Other Directors" category features six candidates: Mr. Bakhtiar Hameed Wain, Mr. Khalid Hamid Wain, Mr. Tanveer Karamat, Mr. Asmar Ahmed Atif, Mr. Adeel Khalid, and Mr. Muhammad Safiuddin. Shareholders will elect five directors from this category for a term of three years starting from June 8, 2024.

The notice was published nationwide on June 1, 2024, in "Business Recorder" and "92 News." Shareholders are encouraged to participate in the EOGM via a video conference facility, details of which are available on the Company's website.

In line with the Companies (Postal Ballot) Regulations, 2018, voting options include electronic voting and postal ballots. The electronic voting system, managed by FAMCO Share Registration Services (Private) Limited, will be accessible to shareholders from June 4 to June 7, 2024. Details regarding the e-voting process have been communicated to the members via email and SMS.

For further information and updates on the electoral process, shareholders can visit https://octopusdtl.com/.