Karachi November 09, 2021: Pakistan Stock Exchange has notified to all concerned that as a consequence of defaults of Clauses 5.11.1. (b) & (i) of the PSX Regulations i.e suspended commercial production/business operations in its principle line of business for a continuous period of one year and adverse opinion of the statutory auditor in the audit report for the year ended June 30, 2021, M/s. Service Fabrics Limited (“SERF”) will be placed in the Defaulters’ Segment with effect from Wednesday, November 10, 2021.
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PSX Allows Defaulter Company To Issues Right shares For Paying Sponsor Loan
The said clauses are reproduced hereunder for reference:
5.71.7. A listed company may be placed in the Defaulters’ Segment if:
(b) It has suspended commercial production/business operations in its principle line of business for a continuous period of one year;
Upon placement of such company on the Defaulters’ Segment, the Exchange shall only initiate actions under Regulation 5.11.2(a) and 5.1 1.2(b).
(i) Its statutory auditor has issued a qualified opinion on the going concern assumption or has issued a disclaimer or an adverse opinion in the audit report;
Upon placement of such company on the Defaulters’ Segment, the Exchange shall only initiate actions under Regulation 5.1 1 .2(a) and 5.1 1 .2(b).
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Hascol Petroleum and Sui Southern Gas Expelled from KSE-100 Index: PSX
