PSX places Al Shaheer Corporation in defaulters' segment

MG News | November 06, 2024 at 03:55 PM GMT+05:00

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November 06, 2024 (MLN): The Pakistan Stock Exchange (PSX) announced today the placement of Al Shaheer Corporation Limited (PSX: ASC) in the Defaulters' Segment, effective November 6, 2024.

The exchange cited the company's failure to hold its Annual General Meeting (AGM) and present its Annual Audited Financial Statements for the year ended June 30, 2024, as the reason for this decision.

Further, in case ASC fails to hold its AGM or transmit its Annual Audited Financial Statements even after 06 months of placement i.e. up to May 06, 2025, a Risk Warning Alert (RWA) shall be issued against ASC.

Moreover, if ASC further fails to hold its AGM or transmit its Annual Audited Financial Statements for two consecutive years, trading in the shares of ASC shall be suspended.

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