Karachi December 22 2021: Summit Bank Limited (SMBL) has convened all the overdue AGMs and submitted the Annual Audited Accounts. In view thereof, the non-compliances of SMBL under PSX Regulations 5.11.1. (c) & (d) stands rectified. Therefore, SMBL shall be shifted to the “Normal Counter” of the Exchange with effect from Thursday, December 23, 2021.
Earlier on January 16, 2020 PSX placed M/s. Summit Bank Limited (“SMBL”) in the Defaulters’ Segment of the Exchange with effect from Friday, January 17, 2020 under PSX Regulations 5.11.1. (c) & (d) i.e. failed to hold its Annual General Meeting (AGM) and submit its Annual Audited Accounts, was notified by PSX for information of all concerned.
SMBL 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 remain protected at all times.
