PSX enforces compulsory buy-back for Dewan Automotive Ltd

MG News | December 05, 2023 at 10:47 AM GMT+05:00

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December 05, 2023 (MLN): The Pakistan Stock Exchange (PSX) has issued a compulsory buy-back directive to Dewan Automotive Engineering Limited (PSX: DWAE) due to its failure to rectify non-compliance with PSX regulations.

The local bourse, through notices issued on November 13 and November 27, twice informed the company about the required action.

Moreover, DWAE has up to December 11, 2023, to rectify the abovementioned non-compliance or comply with the compulsory buy-back direction.

In case of failure to comply, action may be taken against DWAE as required under the subsequent provisions of PSX Regulation 5.11.2.

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