The Lahore Stock Exchange (LSE) has suspended trading in shares of nine listed companies for 60 days on account of default of listing regulations, and in the light of the directives of high courts with effect from July 18.
These companies have defaulted Listing Regulations of the LSE including non-payment of annual listing fee, non-declaration of dividend or bonus for five years from the date of last declaration, non-holding of annual general meeting (AGMs) and violation of other reporting requirements, LSE notified on Thursday.
The companies are Pakistan Northern Insurance Company Ltd, Awan Textile Mills Ltd, Tanga Pakistan Ltd, Pakistan Dairies Ltd, Regal Ceramics Ltd, Junaid Cotton Mills Ltd, Alif Textile Industries Ltd, Apex Fabrics Ltd, and Mehran Jute Mills Ltd.
Moreover, the notice said that on petition filed by the Securities and Exchange Commission of Pakistan (SECP) against these companies, the high courts have passed orders for winding up of the same. It further added the Board of Directors has resolved to suspend trading in the shares of above companies in the interest of the general public for a period of 60 days.
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