PSEL defers director elections following IHC directive
MG News | February 24, 2026 at 08:53 AM GMT+05:00
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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