The extra-ordinary general meeting (EOGM) of KSE members called on Thursday to pass a resolution against appointment of non-member director as chairman of the exchange, has been adjourned till November 22, 2010. The KSE board of directors' meeting was also adjourned till Friday (today) on the request of KSE chairman Zubyr Soomro.
The board meeting was called on Thursday and attended by the member directors. Chairman Zubyr Soomro sent a letter to the board requesting adjournment of the meeting till Friday. Later, the KSE EOGM was held at the KSE auditorium and around 75 members gathered to attend the meeting. After a brief discussion on various issues, the members resolved to adjourn the EOGM till November 22, 2010. The board meeting, to be held today, is expected to be attended by all the member and non-member directors.
The senior members believe that all the issues including appointment of acting managing director of the exchange, holding of EOGM and the non-member directors' complaints against behaviour of some members would be discussed and resolved in the board meeting.
It is also learnt that SECP chairman Salman Sheikh is expected to visit Karachi Stock Exchange on Friday to resolve differences between member and non-member directors. Sources said the SECP chairman would be in Karachi on Friday to attend the meeting of the Council of Institute of Chartered Accountants of Pakistan (ICAP). During his visit to Karachi, the SECP chairman is likely to hold a special meeting at KSE to resolve the differences between the member and non-member directors.