The Karachi Stock Exchange Limited’s notice of suspension of CDS eligibility of ordinary shares of Gulistan Textile Mills Limited under the CDC regulations

Karachi, January 28, 2013 (PPI-OT): By our notice dated January 04, 2013 issued to Gulistan Textile Mills Limited (hereinafter referred to as the “Issuer’”) under Regulation 5.3.2 of the Central Depository Company of Pakistan Limited Regulations (“the CDC Regulations”), we showed our intention to suspend the Central Depository System Eligibility (“CDS Eligibility”) of Ordinary Shares (Security Symbol: GUTM) (hereinafter referred to as the “said Securities”) of Issuer if the fee and charges are not paid by the Issuer in accordance whit the schedule of Fees and Deposits of the CDC Regulations (hereinafter referred to as the “Schedule”) and as detailed in our aforesaid notice within ten (10) Business Days from the date of such notice, failing which CDS Eligibility of the said Securities of the Issuer will be suspended.

It is now notified that CDC shall suspend the CDS Eligibility of the said Securities of the Issuer with effect from Monday, January 28 2013 on account of failure of the Issuer to settle the CDC invoice in accordance with the Schedule in discharge of its obligation under the CDC Regulations. This suspension shall remain in force till further notice. During the suspension period no new deposit requests will be accepted in the CDS.

It is to be noted that as per the CDC Regulations, if a suspension of the CDS Eligibility of any Securities of an Issuer continues for 60 Business Days, CDS Eligibility of such Securities can be revoked with effect from end of Day on the last day of the suspension.

Please note that as per the CDC Regulation, consequent to revocation of CDS Eligibility of the of the Issuer, all the Book-entry Securities representing the Securities of the Issuer held in the accounts and sub-accounts in the CDS would be cancelled including securities held under pledged position.

Further, as required under Regulation 5.3.3(b), a copy of this notice is being sent to the Stock Exchange on which the Securities of the Issuer are listed.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136

Leave a Reply