SECP prevents KE from altering the makeup of the board of directors

SECP prevents KE from altering the makeup of the board of directors

SECP prevents KE from altering the makeup of the board of directors

SECP prevents KE from altering the makeup of the board of directors

K-Electric (KE) has been ordered by the Securities and Exchange Commission

of Pakistan (SECP) not to alter the make-up of the current board of directors until additional directives have been issued by the Commission.

The SECP recently gave the K-Electric Chief Executive Officer instructions in this regard.

While K-Electric Limited (the target company) is a public limited company and its shares are traded

Under sections 96 and 131 of the Securities Act of 2015 (the Act), the target compa

After the target company made the aforementioned announcements on October 20, 2022, the SECP (the Commission) requested more time from the target company to provide the necessary information in a letter dated October 26, 2022.

This is because the target company has requested more time to assess the compliance with Part IX

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