K-Electric has refuted rumours of a change in its board of directors, noting that any change, whether in the structure of the board or shareholding, has to be disclosed to the stock exchange in line with the requirements of being a public listed company.
In a statement issued by the company late on Wednesday, K-Electric said that board members continue to represent the shareholders with a concentrated focus on the growth of the company in an evolving power sector.
The company clarified that a majority of shares (66.4%) of the company are listed on the Pakistan Stock Exchange (PSX) and are owned by KES Power - a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF).
Moreover, the Pakistan government also maintains a shareholding of 24.36% in the company.
Moreover, any changes in the shareholding pattern of the company will be disclosed in line with the stipulated regulations that govern publicly listed companies in Pakistan.
The statement added that the board members are focused on preparing K-Electric to steadily transition towards an open market era.
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