KSE elects directors

The annual election of Karachi Stock Exchange (KSE) for the calendar year 2007 fetched record 173 votes on Thursday. There were 200 listed voters or members of KSE, The News learnt.

Election for the five positions of directors out of seven candidates was held under the Articles of the Exchange.

In their individual capacities, Shehzad Chamdia clinched the highest 150 votes, followed by Dawood Jan Muhammad, who acquired 133 votes.

Haji Ghani Haji Usman got the third biggest number of 124 votes.

Muhammad Shoaib Memon and Sikandar Esmail Bagasrawala received 114 votes and 112 votes respectively and simultaneously filled all five positions of directors.

Zafar Moti, the outgoing Director KSE and Arif H Yousuf Saya could not come on board as they got the least votes among the contesters at 102 and 80 respectively.

Earlier, Haji Haroon withdrew his nomination papers on November 29, 2006.

Prior to the polling, which started at 3pm and ended up at 5pm, an Extraordinary General Meeting (EGM) of the Karachi Stock Exchange (Guarantee) Limited was held at the registered office of the Exchange to conduct among other business, the annual election of directors.

Source: The News