PSEL defers director elections following IHC directive

MG News | February 24, 2026 at 08:53 AM GMT+05:00

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February 24, 2026 (MLN): Pakistan Services Limited (PSX:PSEL) has deferred its election of directors, originally scheduled for March 29, 2026, following directions from the Islamabad High Court.

The Board of Directors, during its meeting held on February 23, 2026, discussed and resolved to defer the director elections until further orders from the court.

The decision comes in compliance with court directives related to ongoing legal proceedings concerning the company's governance and shareholding matters.

The Islamabad High Court has suspended the operation of impugned notices relating to, among other things, the acquisition of shares and holding of fresh elections.

The court has also restrained certain respondents from interfering with the management or affairs of the company.

More significantly, the court has directed that the operation and effect of the impugned transfers shall remain suspended and that status quo be maintained with respect to the shareholding structure, the composition of the Board of Directors, and the control and management of the company.

The aforementioned information was disseminated through a notification to Exchange.

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