Lahore Stock Exchange to delist Saif Nadeem Kawasaki Motors Limited and First Habib Bank Modaraba

Lahore, June 02, 2014 (PPI-OT): Saif Nadeem Kawasaki Motors Limited was listed at Lahore Stock Exchange in the year 1982 and its total paid up capital is Rs. 25.830 million. The Company is under violation of Listing Regulations No. 30(1)(b)(d)(e)(g) of the Exchange i.e. non-holding of AGM, had gone into liquidation though Court Order, non-payment of annual listing fee of the Exchange and fail to join CDS. After de-listing of these two companies number of listed companies at LSE would reach 432.

Trading in the shares of the Company has already been suspended w.e.f. August 16, 2010 on the order of SECP. Joint official liquidators for the Company have been appointed vide winding-up Order of the Peshawar High Court received from SECP through letter No. EMD/233/453/2002-944.

In view of the above and keeping in view the public interest, Lahore Stock Exchange Limited after due consideration of facts and circumstances and in exercise of the powers vested in it under Section 9(4) of the Securities and Exchange Ordinance, 1969 and Listing Regulations of the Exchange has decided to delist Saif Nadeem Kawasaki Motors Ltd. from the Ready Board Quotation of the Exchange w.e.f. June 02, 2014.

Moreover First Habib Bank Modaraba (FHBM) has gone into voluntary winding-up under Listing Regulation No. 30(1)(c) of the Exchange. The certificate holders of FHBM through a special resolution adopted in the Extra Ordinary General Meeting held on March 27, 2014 resolved that the Modaraba be wound up voluntarily and appointed Mr. Aslam Gadit as official liquidator.

Trading in the certificates of Modaraba has already been suspended w.e.f. March 28, 2014 under the Listing Regulations. In view of the above, Lahore Stock Exchange Limited after due consideration of facts and circumstances and in exercise of the powers vested in it under Section 9(4) of the Securities and Exchange Ordinance, 1969 and Listing Regulations of the Exchange has decided to delist First Habib Bank Modaraba from the Ready Board Quotation of the Exchange w.e.f. June 02, 2014.

For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Cell: +92 306 4506086
Tel: Direct +92 4236280792, +92 423636 8000 Ext. 5031-5032
Fax: +92 42 3636 8485 – 111 441441
Email: barkatali@lse.com.pk
Web: www.lse.com.pk

The post Lahore Stock Exchange to delist Saif Nadeem Kawasaki Motors Limited and First Habib Bank Modaraba appeared first on Business News Pakistan.

The post Lahore Stock Exchange to delist Saif Nadeem Kawasaki Motors Limited and First Habib Bank Modaraba appeared first on AsiaNet-Pakistan.

Leave a Reply