Karachi April 12 2022: It is hereby informed that M/s. Reanda Haroon Zakaria & Company, Auditor of Johnson & Philips Pakistan Limited (JOPP), has shared the certificate dated April 01, 2022 confirming that JOPP has resumed its business operations by carrying out trading of textile machinery which is part of its principle line of business.
Hence, JOPP has rectified the non-compliance of PSX Regulation related to continuation of operations.
In view thereof, JOPP shall be shifted to the "Normal Counter" of the Exchange with effect from Wednesday, April 13, 2022.
JOPP has been advised to ensure meticulous compliance of all applicable Rules and Regulations so that the interests of minority shareholders remain protected at all times.
PSX notice of December 21, 2021 relating to rectification of non-compliance of PSX regulations 5.11.1 (i) by M/s. Johnson & Phillips (Pakistan) Limited ("JOPP") and continuation of its placement in the Defaulters' Segment on account of non-compliance of clause related to suspended commercial production/business operations in its principle line of business for a continuous period of one year, was notified for information of all concerned.
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