KARACHI: Hum Network Ltd’s Extraordinary General Body meeting held on August 22 decided to postpone the elections to its board of directors in compliance with order from the Sindh High Court.
The network’s management has informed the stock exchange that it has reason to believe it is under a hostile takeover by the JS Group, which has denied the charges.
The company declared eight of the 15 individuals who had filed nomination papers to be ineligible, a move that has been challenged in the courts.
Saturday’s EOGM was marred by scuffling as some felt they were being barred from attending. The meeting decided to approve the change in the company’s registrar, and also conducted a secret ballot following which the chairman claimed that a majority had voted in favour of the decision to disqualify those eight nominations. The matter now stands before the court.
