Karachi February 28 2022: Pakistan Stock Exchange (PSX) is hereby informed to all concerned that Clover Pakistan Limited (“CLOV”) has convened the overdue AGM and submitted the Annual Audited Accounts for the year ended June 30, 2021.
In view thereof, the non-compliances of CLOY under PSX Regulations 5.11.1. (c) & (d) stands rectified. Therefore, CLOV shall be shifted to the “Normal Counter” of the Exchange with effect from Monday, February 28, 2022.
A L S O || R E A D
Trading in Dewan Automotive Engineering to remain suspended: PSX
CLOY has been advised to abide with all applicable Rules and Regulations of this Exchange and observe due care in future with respect to compliance requirements so that the interest of minority shareholders remains protected at all times.
Earlier, PSX placed of Clover Pakistan Limited (“CLOV”) in the Defaulters’ Segment on account of non-compliance of PSX Regulations related to failure to hold its Annual General Meeting (AGM) and submit its Annual Audited Accounts for the year ended June 30, 2021 within the stipulated time was notified for information of all concerned.
Clover Pakistan Ltd was incorporated in Pakistan on September 30, 1986 as a Public Listed Company under the repealed companies ordinance, 1984 (now Companies Act 2017). The principal business of the Company includes sale of food products, consumer durables, chemicals and lubricants and also import & trade of gantry equipment’s air/oil filter and other car care products. The Company is also involved in marketing & distribution and after sales support of office automation products, fuel dispensers, vending machines and digital screens.
