The Karachi Stock Exchange (Guarantee) Limited’s suspension of trading in the shares of the companies pursuant to the non-compliance of the listing regulation No. 130 of the Karachi Stock Exchange

Karachi: In suppression of our Notice No.KSE/N-520 dated February 10, 2012.

It is hereby informed to all concerned that the following companies have committed defaults under Listing Regulation No.30 Including Non-Holding of Annual General Meetings for two or more years as required under Listing Regulation No. 30(1)(b):

 

S.

No

Name of Companies Default Under Listing Regulations
1. Accord Textiles Limited 30(1)(b)(e)(g)
2. AL-Azhar Textile Mills Limited 30(1)(b)(e)
3. Al-Qaim Textile Mills Limited 30(1)(b)(e)(g)
4. Amin Spinning Mills Limited 30(1)(b)(e)(g)
5. Fawad Textile Mills Limited 30(1)(b)(e)
6. Hashimi Can Company Limited 30(1)(b)(e)(g)
7. Indus Fruit Products Limited 30(1)(b)(e)(g)
8. Libaas Textile Limited 30(1)(b)(e)(g)
9. Mubarak Dairies Limited 30(1)(b)(e)(g)
10. Shahpur Textile Mills Limited 30(1)(b)(e)
11. Zahur Cotton Mills Limited 30(1)(b)(e)(g)
12. AMZ Ventures Limited 30(1)(b)(e)

 

 

Pursuant to the requirements under the Listing Regulations, trading in the shares of the companies will be suspended w.e.f. Thursday, February 16, 2012 in exercise of the powers vested In the Exchange under Sub-Section (7) of the Section 9 of the Securities and Exchange Ordinance, 1980 and the Listing Regulations of the Exchange.

The companies will be required to rectify the defaults within 90 DAYS i.e. upto May 15, 2012, falling which, the Exchange shall proceed to delist the companies from the Exchange in accordance with the Listing Regulations. The cases of the companies are also being forwarded to the Securities and Exchange Commission of Pakistan (SECP) for initiating further action under the Companies Ordinance, 1984 against the companies / management as may be deemed appropriate.

The companies pursuant to the above Listing Regulation may opt for voluntarily delisting through buy-back of shares of the minority shareholders by the sponsors / majority shareholders in accordance with Listing Regulation No.30-A, if it is so desired.

 

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

Leave a Reply