The Lahore Stock Exchange (LSE) has approved the formal listing of preference shares of M/s Masood Textile Mills Ltd, on completion of formalities required under the listing regulations, with effect from Thursday (September 01).
A notice issued by LSE on Wednesday said following the special resolution passed by share holders in extraordinary general meeting on May 28, the Securities & Exchange Commission of Pakistan (SECP) has allowed Masood Textiles Mills Ltd, to issue 60,000,000 cumulative, convertible, non voting preference shares of Rs 10/- each carrying preferential right of divided @ Base Rate plus 200 bps, to the institutional investors.
It further said that preference shares of the company have already been declared eligible security by the Central Depository Company Pakistan, and National Clearing Company of Pakistan vide its letter, dated August 05, 2005, has assigned the security symbol "MSOTPS to preference shares of the company'.
Co's trading suspended
The Lahore Stock Exchange (LSE) has suspended for 60 days trading in the shares of M/s Asian Leasing Corporation Ltd, on complaints regarding default committed by it, under listing rules and regulation of the exchange, with effect from Thursday (September 01).
The company committed defaults under the Listing Regulations of the LSE regarding non-deceleration of dividend or bonus for five years from the date of lst declaration and has gone into liquidation under Members Voluntary Winding, a notification issued by the LSE on Wednesday said.
Therefore, it added, keeping in view the public interest the governing board of the exchange has resolved that trading in the shares of the company would remain suspended for a period of 60 days, with effect from Thursday (September 01).
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