Five new KSE directors elected

The annual election of the Karachi Stock Exchange was held here on Thursday to elect five new directors for the next term of 2007. An extraordinary general meeting of the KSE was held to conduct the poll for which a four-member committee was constituted.
The ballot box was sealed before the polling, which started at 3pm at the KSE office. Five candidates out of seven were declared successful. Successful candidates are Shehzad Chamdia with 150 votes, Dawood Jan Muhammad with 133, Haji Ghani Haji Usman with 124, Muhammad Shoaib Memon with 114 and Sikandar Esmail Bagasrawala with 112 votes. While Zafar Moti with 102 votes and Arif H, Yousuf Saya with 80 votes remained unsuccessful.
Total 173 votes were cast out of 200 voters of the KSE. Earlier, eight candidates submitted their nomination papers, which were duly scrutinised and found in order by the appointed scrutinisers. However, one candidate Haji Haroon Kapadia withdrew his papers on November 29, which was the last date for the withdrawal.