Lahore Stock Exchange (LSE) Limited, after due consideration of facts and circumstances and in exercise of the powers vested in it under Section 9(4) of the Securities & Exchange Ordinance, 1969 and Listing Regulations of the Exchange, has decided to de-list First Habib Bank Modaraba (FHBM) and Saif Nadeem Kawasaki Motors Ltd, from the Ready Board Quotation of the Exchange w.e.f. June 2, 2014. Saif Nadeem Kawasaki Motors Limited was listed at LSE 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 ie non-holding of AGM, had gone into liquidation though Court Order, non-payment of annual listing fee of the Exchange and fails to join CDS. Trading in the shares of the company has already been suspended w.e.f. August 16, 2010 on the order of SECP.
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 Aslam Gadit as official liquidator. Trading in the certificates of Modaraba has already been suspended w.e.f. March 28, under the Listing Regulations.
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