Dewan Farooque Motors Limited has postponed its scheduled Board of Directors meeting due to a severe cyberattack that caused significant IT server crashes and data corruption, the company disclosed in a notice sent to the local bourse.
“We regret to inform you that owing to malware and a cyberattack, our IT servers have been crashed, and data has been corrupted badly, resulting in postponing the Board Meeting,” read Dewan Farooque Motors’ notice.
The company stated that the board meeting, initially rescheduled for November 28, 2024, could not be held as key financial data and systems, including those related to the first quarter ending September 30, 2024, were compromised.
The information system and financial data, including that of the 1st Quarter ended September 30, 2024, are required to be restored, which will take considerable time.
Accordingly, a new date for the board meeting will be announced once the restoration is complete.
The company has expressed regret over any inconvenience caused by the delay and confirmed that the incident has been reported to the relevant authorities, including the Securities and Exchange Commission of Pakistan (SECP).
