SUSPENSION OF TRADING IN THE SHARES OF M/S. SAUDI PAK LEASING COMPANY LIMITED EXTENDED

Karachi: Trading in the shares of M/s. Saudi Pak Leasing Company Limited will remain suspended for an additional 60 days starting September 9, 2024, due to ongoing non-compliance with Pakistan Stock Exchange (PSX) regulations.

The extension follows the initial suspension notice PSX/N-640 issued on July 9, 2024, citing the company’s failure to resume commercial production and business operations, which are mandatory under clauses 5.11.1.(a)(g)(h) of the PSX Regulations. According to information available from the Pakistan Stock Exchange (PSX), the statutory auditor of Saudi Pak Leasing has also issued a disclaimer of opinion in the audit report, and the company’s Non-Banking Finance Company (NBFC) license has been canceled by the Securities and Exchange Commission of Pakistan (SECP).

The decision to extend the trading suspension was made under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, combined with clause 5.11 of the PSX Regulations. The measure seeks to maintain market order and protect investor interests until the company addresses the specified regulatory concerns.

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