Karachi April 7 2023: Pakistan Stock Exchange (PSX) notified to all concerned that M/s. Pace (Pakistan) Limited (PACE) is being placed in the Defaulters' Segment w.e.f. April 07, 2023 as a consequence of non-compliance of PSX Regulation 5.11.1.(e) i.e. failure to pay the penalty imposed by PSX under PSX Regulation 5.21.
As per the clause 5.7 7.7. A Listed Company may be placed in the Defaulters' Segment if:
(e) It has failed to pay within the time specified by the Exchange:
(i) the annual listing fees for two (2) years or
(ii) any penalty imposed by the Exchange under these Regulations through (inal order; or
(iii) any other dues payable to the Exchange under these Regulations.
As required under PSX Regulation 5.11 .2.(c), PACE is hereby instructed to rectify the said non-compliance within 90 days i.e. up to July 05, 2023 by payment of all outstanding dues of the Exchange.
In case PACE fails to comply with the above within the stipulated time, further action(s) may be taken under PSX Regulation 5.11.2. including suspension of trading in the shares of PACE.
Pace (Pakistan) Limited is a public limited company incorporated in Pakistan under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) and is listed on Pakistan Stock Exchange. The Company is engaged to build, acquire, manage and sell condominiums, departmental stores, shopping plazas, super markets, utility stores, housing societies, plot and other properties and to carry out commercial, industrial and other related activities in and out of Pakistan.
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