IML moved from Defaulters’ segment to Normal counter

By MG News | November 23, 2021 at 09:54 AM GMT+05:00

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November 23, 2021 (MLN): Pakistan Stock Exchange has shifted Imperial Limited (IML) from “Defaulters’ Segment” to “Normal Counter” with effect from Tuesday, November 23, 2021, as the company has rectified the default of 5.11.1(I) of PSX regulations, a notice issued by PSX said.

The Stock Exchange had earlier placed the company in the defaulters’ segment from June 19, 2019, as SECP had issued a show-cause notice for winding up proceedings against the company which attracts action under clause 5.11.1(I) of PSX regulations.

Now, SECP has dropped the winding-up proceedings initiated against the company on November 19, 2021, through PUCARS, thus IML has been shifted to the “normal counter” of the exchange, PSX notice said.

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