K-Electric postpones EOGM, expands directors to 13

K Electric Limited (KE) announced on Wednesday that it postponed its Extraordinary General Meeting (EOGM) to April 2, and increased the number of directors to be elected from 10 to 13.

The country’s sole power utility for Karachi shared the information in a notice to the Pakistan Stock Exchange (PSX) today.

It said that the decision was taken after the Government of Pakistan (GoP), through the Ministry of Energy (Power Division), informed the company that it would exercise its shareholder right to nominate or elect directors to the board.

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“It has further been intimated that GoP shall, in exercise of its right, take or communicate its decisions in the context of nomination/election during the process and accordingly shall participate in the manner deemed fit and appropriate by it.

“Accordingly, it was advised that steps be taken for the election of thirteen (13) directors rather than previously intimated 10 (ten) directors,” the notice read.

KE said the communication from the Ministry of Energy (Power Division) was placed before the Board of Directors, which, after due consideration, decided to modify its earlier resolution and approved holding elections for all 13 directors instead of the previously announced 10.

“Further, it was also resolved that all statutory and regulatory formalities be complied with, including rescheduling of EOGM on 02 April 2026, or such other date as may be directed by Securities and Exchange Commission of Pakistan (SECP), instead of 25 March 2026.”

The bourse was informed that on March 10, SECP had accorded its approval to KE for convening the EOGM on April 2, after completion of all legal and procedural requirements.

“Accordingly, the EOGM will now be held on Thursday, April 2. Any person seeking to contest the election of directors shall now file the notice of intention and other requisite documents at the registered office of the company, latest by 19 March 2026, i.e. 14 days before the EOGМ.”

KEL has been operating under a frozen board structure since July 2022, when its last election of directors was followed by litigation that resulted in a court-ordered stay on any changes to the board.

That interim order, issued in October 2022, effectively stalled the company’s governance cycle and was repeatedly cited by K-Electric as the reason elections could not be held, including those due in mid-2025.