November 10, 2021 (MLN): Pakistan Stock Exchange has placed Service Fabrics Limited in the Defaulter’s segment with effect from Wednesday, November 10, 2021.
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 its principal 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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