PIA fails to hold AGM, lands in Defaulters’ Segment list: PSX

MG News | October 10, 2018 at 10:27 AM GMT+05:00

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October 10, 2018 (MLN): The Pakistan Stock Exchange Limited (PSX) has decided to place M/s. Pakistan International Airlines (PIA) in the defaulter’s segment on account of failing to hold its Annual General Meeting and submitting its Annual Audited Accounts for the year ended December 2017.

According to an official statement issued by the Exchange, PIA will be placed in the Defaulters’ Segment of the Exchange with effect from today, i.e. Wednesday October 10, 2018.

The notification further states that in case PIA fail to hold its Annual General Meeting and submit its annual accounts for two consecutive years, trading in shares of the company shall be suspended immediately by the Exchange and the company shall be given 90 days to rectify the non-compliance, failing which, the Exchange shall initiate further action against the company.

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