FNEL wins legal battle against SECP over share repurchase

MG News | May 02, 2025 at 04:13 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

May 02, 2025 (MLN): First National Equities Limited (PSX: FNEL) has secured a legal victory as the Honorable High Court dismissed a petition filed by the Securities and Exchange Commission of Pakistan (SECP) concerning share repurchase obligations.

The petition, originally filed by SECP in January 2016 under Companies Jurisdiction, sought a court directive compelling FNEL to repurchase shares from minority shareholders.

However, after reviewing the company's submissions and supporting documentation, the court ruled the petition as infructuous and officially dismissed the case on April 29, 2025.

The decision brings closure to a legal matter that has spanned nearly a decade, providing clarity for FNEL and its shareholders.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	175,802.79 267.06M	-1.30% -2320.78
ALLSHR	106,568.29 617.78M	-1.25% -1352.24
KSE30	52,497.68 83.82M	-1.25% -665.92
KMI30	247,323.37 106.69M	-1.37% -3422.76
KMIALLSHR	68,315.26 363.70M	-1.37% -952.13
BKTi	49,936.11 23.35M	-1.18% -594.28
OGTi	34,758.02 9.23M	-1.71% -605.59

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,420.00	64,420.00 63,980.00	150.00 0.23%
BRENT CRUDE	88.26	88.38 83.71	4.03 4.78%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.65 -0.61%
ROTTERDAM COAL MONTHLY	119.80	120.30 119.80	0.00 0.00%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	81.77	82.07 77.93	3.49 4.46%
SUGAR #11 WORLD	14.82	14.94 14.39	0.38 2.63%