Karachi: Securities and Exchange Commission of Pakistan
This is with reference to this Commission’s letter of even number dated October 11, 2011 (copy attached for ready reference) on the subject noted above whereby all the listed companies and their Share Registrars and Transfer Agents (SRTA) were advised to make every effort to deliver the unclaimed / undelivered shares lying with them, if any, to the respective members / shareholders.
2. In this regard, the Commission has published Public Notices in the newspapers having wide circulation throughout the country during the months of October and November 2011 for information of the concerned members / shareholders to contact the respective listed company / SRTA for collection of their shares which they have not received due to any reason.
3. In order to get the status of delivery of unclaimed / undelivered shares, you are requested to provide us the following information:
(i) Number of shareholders along with the number of shares held by each of them who approached the company /SRTA during the period October – December 2011 for collection of their unclaimed / undelivered shares;
(ii) Number of shares delivered / dispatched by the company / SRTA during the period from October – December 2011 out of the unclaimed / undelivered shares pursuant to SECP’s above referred letter dated October 11, 2011; and
(iii) Detail of the unclaimed / undelivered shares lying with the company / SRTA as on December 31, 2011 on the following pattern:
|Name of Company||Total Number of Unclaimed / Undelivered Shares|
Delivery of the Unclaimed/ Undelivered Shares Lying with the Listed Companies / Share Registrars
The Securities and Exchange Commission of Pakistan (the Commission) has conducted a study to know the quantum of shares lying with various listed companies as unclaimed/undelivered. It has been observed that a large number of shares of some listed companies are either lying with them or with their Share Registrars and Transfer Agents as unclaimed/undelivered, which actually were required to be delivered to the respective members / shareholders. Such shares include undelivered shares issued pursuant to IPOs, bonus issues, right issues etc. Some of the reasons of pilling up of these unclaimed / undelivered shares are return of share certificates as undelivered due to incomplete addresses, shifting of the shareholders from the addresses available with the Share Registrars and/or the listed companies and non presentation of documents evidencing payment for right shares etc. The detail of said unclaimed/undelivered shares is available on the websites of the Commission and all the stock exchanges.
2. All the listed companies and their Share Registrars/transfer Agents are, therefore, advised to make every effort to deliver the said shares to respective members/shareholders. In case where NIC/CNIC numbers of the concerned members/shareholders are available, their addresses may be obtained from the National Database and Registration Authority (NADRA) by the concerned Share Registrars arid companies, to dispatch them their shares.
3. Further, all the Share Registrar and Transfer Agents are requested to apprise the Commission with the number of unlearned/undelivered shares lying with them after close of every quarter with respect to each company to whom they provide services as Share Registrar.
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136