The members of Karachi Stock Exchange (KSE) unanimously approved three-year term of directors at KSE board. This approval was given by the members at an extraordinary general meeting held at KSE on Thursday.
It is worth mentioning here that KSE members had earlier rejected the proposal to increase directors' term at the KSE board from one year to two years at the annual general body held on December 08, 2011.
Later the Securities and Exchange Commission of Pakistan (SECP) issued a directive to KSE few months back to increase the term of directors at KSE board from one year to three years and get it approved from the general body.
Following the SECP directives, the KSE held extraordinary general meeting and approved to increase the directors' terms from one year to three years.
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