Lahore Stock Exchange receives notification from Ghani Automobiles Industries Ltd. dispelling rumours that the company was likely to introduce tractor manufacturing
Lahore, July 30, 2015 (PPI-OT): Lahore Stock Exchange has received a notification from Ghani Automobiles Industries Ltd. (GAIL) on July 24, 2015 dispelling rumours prevailing in the market that the company was likely to introduce tractor manufacturing. Whereas the company vide it’s above notice has stated that the GAIL is only focusing on the manufacturing of the two and three wheelers.
The company has stated that being a listed company, it will disclose all material/price sensitive information to the market in a timely fashion. On the contrary, the company on its web site in the parts related to the mission statement, future plans and general introduction has itself committees to the manufacturing of 4 and 6 wheelers.
The share price and the liquidity in the stock of the company has risen manifolds during the last many trading sessions. This may reflect a systematic and deliberate attempt from the company to not disclose the correct facts to the market in a timely fashion especially since the company’s own web site (a public domain for all practical purposes) adequately highlights that the company may venture into 4 and 6 wheelers. The company changed the contents on its website after taking notice by the Exchange, investigation against the company has been started.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan
Tel: +92-42-36368000
Fax: +92-42-36368484-85
Email: barkatali@lse.com.pk
Website: www.lse.com.pk