Quantum Data Technologies Limited (PSX: QTECH), formerly Chakwal Spinning Mills Limited, has reviewed progress on its new line of business and its Board of Directors is satisfied with progress so far.
According to a notice submitted to the Pakistan Stock Exchange, the board of directors met on January 23, 2026, and expressed satisfaction over the steps taken so far for the company’s new line of business. The board noted progress in development and said it expects business operations to begin in the near future.
The management briefed the board on recent initiatives and conveyed confidence that these measures would help strengthen trust among shareholders and other stakeholders.
The board meeting also approved changes in the company’s board composition. Directors Khawaja Muhammad Tanveer and Ms Munaza Kaleem resigned from the board with effect from January 23, 2026. The board accepted their resignations and placed on record its appreciation for their services.
To fill the resulting vacancies, the board appointed Syed Ali Qadir Gilani and Mr Sajjad Moin as directors of the company, with effect from January 23, 2026. The company said all statutory formalities related to the appointments will be completed within the prescribed timeframe.
Quantum Data Technologies Limited, formerly known as Chakwal Spinning Mills Limited, has undergone a corporate transformation in recent years as part of efforts to shift away from its legacy textile operations and enter a new business domain.