Pakistan State Oil Reports Loss of Over 650 Shares

Karachi: Pakistan State Oil Company Limited (PSO) has reported the loss of share certificates totaling 657 shares, belonging to the deceased shareholder Mohammad Sharif Akhtar. This notification was made to the Pakistan Stock Exchange (PSX) as part of the company’s regulatory obligations to safeguard shareholder interests.

The lost share certificates span multiple certificate numbers and distinctive numbers, with the largest single loss involving 457 shares under certificate number 970839. Additional losses include 100 shares and two 50-share certificates under numbers 578676 and 60096 respectively. The shares were reported missing across a range of distinctive numbers from 422748357 to 7491076.

According to information available from the Pakistan Stock Exchange (PSX), PSO has initiated a seven-day objection period. During this time, exchange members are advised to abstain from dealing with these shares to prevent unauthorized transactions. This cautionary measure is crucial to maintain the integrity of trading activities and protect the rights of the shareholder’s estate.

Should there be no claims or objections regarding the misplaced certificates within the specified window, PSO will issue duplicate certificates to rectify the shareholder’s record. This process underscores the importance of stringent controls and responsive measures in the management of share certificates to prevent and address potential losses effectively.

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