Bourse Elections: KSE re-registered as public entity

KARACHI: In accordance with the Stock Exchanges [Corporatization, Demutualization and Integration] Act, 2012, the Karachi Stock Exchange’s (KSE) corporate and legal structure was changed from a company limited by guarantee and it was re-registered with the name and style of ‘Karachi Stock Exchange Limited’ as a public company limited by shares, effective from August 27, 2012, according to a press release on Tuesday. Accordingly, the election of directors of KSE was held on Tuesday, September 25, 2012, to elect four directors for a term of three years under the demutualisation Act. The four successful candidates were Abid Ali Habib, Muhammad Yasin Lakhani, Abdul Majeed Adam and Mohammed Sohail. In terms of the demutualisation Act, the Securities and Exchange Commission of Pakistan nominated six directors on KSE board, out of whom Muneer Kamal was elected as the chairman of the board.

Published in The Express Tribune, September 26^th, 2012.