November 26, 2020 (MLN): Pakistan Stock Exchange has placed Arshad Energy Limited in the Defaulter’s segment with effect from Thursday, November 26, 2020.
According to an official statement issued by the Exchange, the company is placed on the ‘defaulters’ counter as a consequence of default of Clause 5.11.1.(b) of PSX Regulations which states that:
A listed company may be placed in the Defaulters’ Segment if it has suspended commercial production/ business operation in tis principle line of business for a continuous period on one year. Upon placement of such company on the Defaulters’ Segment, the Exchange shall only initiate action under Regulation 5.11.2(a) and 5.11.2(b)
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