The Karachi Stock Exchange (Guarantee) Limited’s placement of companies in the defaulters’ segment under listing regulations of the exchange

Karachi: Whereas trading in the shares of the following companies has already been suspended with effect from the date as mentioned against each company:

And Whereas these companies as a consequence of default under Listing Regulation No. 30, as mentioned against each company, will also be placed in the Defaulters’ Segment of the Exchange w.e.f, Monday, December 12, 2011. Accordingly, the Quotations of the Exchange with effect from the date of their placement in the Defaulters’ Segment.

 

S.

No.

Name of Companies Date of Suspension  Nature of Default(s)
1 Usman Textile Mills Limited 17-11-2009 Regulation No. 30(1) (b) i.e. failed to hold Annual General Meeting since June 30,                                                            2009.
2 Dadabhoy Sack Limited 26-10-2009  Regulation No. 30(1)(e) i.e. failed to pay the Annual Listing Fee since July 01,                                                              2009.
3 Nazir Cotton Mills Limited 26-10-2009 Regulation No. 30(1)(e) i.e. failed to pay the Annual Listing Fee since July 01,                                                              2009.
4 First Islamic Modaraba 13-08-2009 Regulation No.(1)(b) and No. 30(1)(e) i.e. failed to hold Annual Review Meetings                                                              since June 30, 2008 and failed to pay the Annual Listing Fee since July 1, 2010,                                                              respectively.
5 Investec Securities Limited 17-11-2009 Regulation No.(1)(b) and No. 30(1)(e) i.e. failed to hold Annual General Meetings                                                             since June 30, 2009 and failed to pay the Annual Listing Fee since July 1, 2010,                                                              respectively.
6 Al-Mal Securities and Services Limited 17-11-2009 Regulation No.(1)(b) and No. 30(1)(e) i.e. failed to hold Annual General Meetings                                                             since June 30, 2009 and failed to pay the Annual Listing Fee since July 1, 2010,                                                              respectively.
7 English Leasing Limited 16-08-2010 Regulation No.(1)(b) and No. 30(1)(e) i.e. failed to hold Annual General Meetings                                                             since June 30, 2009 and failed to pay the Annual Listing Fee since July 1, 2010,                                                              respectively.
8 Platinum Insurance Company Limited 30-01-2009 Regulation No.(1)(b) and No. 30(1)(e) i.e. failed to hold Annual General Meetings                                                             since December 31, 2009, winding-up proceedings of the company have been initiated and failed to pay the Annual Listing Fee since July 1, 2009, spectively.
9 Natover Lease and Refinance Limited 13-02-2008 Regulation No.(1)(b) and No. 30(1)(e) i.e. failed to hold Annual General Meetings                                                             since June 30, 2009, winding-up proceedings of the company have been initiated and failed to pay the Annual Listing Fee since July 1, 2009, spectively.
10. Prudential Discount and Guarantee 16-08-2010 Regulation No.(1)(b) and No. 30(1)(e) House Limited i.e. failed to hold Annual General Meetings since June 30, 2009, winding-up proceedings of the company have been initiated and failed to pay the Annual Listing Fee since July 1, 2009, respectively.

 

It is further notified that the Exchange in terms of the provisions of the Listing Regulations, reserves the right to initiate further action against the companies, subsequently.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

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