Lahore, Fatima Fertilizer Company Limited has informed its members, in accordance with Section 159(4) of the Companies Act, 2017, that seven individuals have submitted notices expressing their intent to stand for election as Directors at the forthcoming Extraordinary General Meeting (EGM) scheduled for September 22, 2023. This EGM will be held in Lahore and made accessible through electronic means.
The profiles of these candidates have been made available on the company's website, which can be accessed at https://fatima-group.com/ffcl/page.php/elections-ffcl. The selection of independent directors has been based on their extensive experience, competencies, diversity, skills, and knowledge, all in accordance with the requirements of Section 166 of the Companies Act, 2017, and the Companies (Manner and Selection of Independent Directors) Regulations, 2018.
Importantly, no notices of intention under Section 159(3) for the female category have been received. As a result, Mrs. Julie Jannerup, one of the candidates, will serve in both the Independent and Female director categories.
Given that the number of candidates who have offered themselves for election does not exceed the number of Directors determined by the Board of Directors under Section 159(1) of the Companies Act, 2017, the seven candidates listed shall be deemed elected as Directors of Fatima Fertilizer Company Limited at the upcoming Extraordinary General Meeting. This process signifies the company's adherence to corporate governance practices and ensures a diverse and experienced board to guide its strategic direction.