Business News Pakistan 2015-07-30 12:34:52

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

Session of Financial Literacy initiative under Campus Outreach Program held for students of Comsat Institute of Information and Technology Sahiwal

Lahore, May 28, 2014 (PPI-OT): The first, second and third session of Financial Literacy initiative under Campus Outreach Program is held for the students of Comsat Institute of Information and Technology, Sahiwal with collaboration of South Asian Federation of Exchange (SAFE).

At the event Corporate Communications Department-LSE gave a detailed presentation covering all spheres of capital and financial markets. The students were briefly informed about the regulatory framework, market indicators, investment products, financial services and opportunities accessible to investors in Pakistan. Ms. Gitee Bhatti-Officer Corporate Communications quoted practical examples about various investment avenues obtainable in the market and their role in the economic structure of the country.

Ms. Gitee also spoke on various operational matters of the Exchanges including listings, trading, corporate governance, sensitivity of Stock Market and investor protection. While addressing to the students, she requested the students to adopt saving behavior in their life style in order to become the Chief Financial Officer of their own life. “Campus Outreach Program” under the broader Financial Literacy Initiative has been launched by the LSE in association with South Asian Federation of Exchange (SAFE).

The fundamental goal of the FLI – Campus Outreach Program is to heighten youngsters’ understanding of financial products and concepts, their capability and confidence to understand financial risks and opportunities to make knowledgeable choices, to know where to go for help, and to prepare today’s youth for improved understanding of the economic/financial associations affecting them.

The LSE under this initiative will be conducting on-campus educational sessions, followed by practical exposure of students to the financial products/services through visits/exchanges with financial institutions and encouraging participation in the financial system through games and internship program.

Later, the students visited various banks and brokerage houses where they were given synopsis on the functioning of these institutions such as live market trading, banking products and services, lending and borrowing services, clearing and local as well as international remittances, etc. The overall objective of the Financial Literacy Initiative (FLI) is to promote the financial skills and the knowledge of the common citizens, and to sustain the plan for the broader financial addition in societies.

For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Cell: +92 306 4506086
Tel: Direct +92 4236280792, +92 423636 8000 Ext. 5031-5032
Fax: +92 42 3636 8485 – 111 441441
Email: barkatali@lse.com.pk
Web: www.lse.com.pk

Lahore Stock Exchange to remain closed on January 14, 2014 (Tuesday) on occasion of 12th Rabbi-ul-Awwal 1435 A.H

Lahore, January 13, 2014 (PPI-OT): Please note that Federal Government has announced public holiday on 12th Rabbi-ul-Awwal 1435 A.H. Accordingly, the market as well as the office of the Lahore Stock Exchange Limited shall remain closed on Tuesday, Januay 14, 2014.

For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Cell: +92 306 4506086
Tel: Direct +92 4236280792, +92 423636 8000 Ext. 5031-5032
Fax: +92 42 3636 8485 – 111 441441
Email: barkatali@lse.com.pk
Web: www.lse.com.pk

Lahore Stock Exchange holds session of Campus Outreach Programme for University of Education

Lahore, February 12, 2013 (PPI-OT): First session of Campus Outreach Program is held today for the students of Bachelor of Sciences in Information Technology from University of Education by Lahore Stock Exchange in collaboration with South Asian Federation of Exchange (SAFE) where LSE’s officials interacted with the students. Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry was the chief guest of this Seminar.

At the event organized at the University of Education, Ms. Madiha Abrahim, from Investor Relations Department LSE explained to the participants the broad features of Pakistan’s economic and financial system, features and characteristics of different financial markets, regulatory framework, market indicators, investment products, financial services and opportunities available to investors in Pakistan and roles and responsibilities being performed by various financial institutions.

They were also given an insight about various investment avenues available in the market and their role in the economic system of the country. Ms. Madiha also spoke on various operational matters of the Exchanges including listings, trading, corporate governance, sensitivity of Stock Market and investor protection.

She briefed and explained the participants that the financial decision making starts from the teenage, therefore, the modification of spending habits of youngsters in order to promote the habits of savings and responsible financial behavior is the need of the hour. She also focused on the classification and functions of the stock market, market indices, historical background and stakeholders of the capital market.

“Campus Outreach Program” under the broader Financial Literacy Initiative has been launched by the LSE in collaboration with South Asian Federation of Exchange (SAFE). The basic goal of the FLI – Campus Outreach Program is to enhance youngsters’ understanding of financial products and concepts, their ability and confidence to appreciate financial risks and opportunities to make informed choices, to know where to go for help, and to prepare today’s youth for better understanding of the economic/financial affairs affecting them.

The LSE under this initiative will be conducting on-campus educational sessions, followed by practical exposure of students to the financial products/services through visits/interactions with financial institutions and encouraging participation in the financial system through games and internship program.

The overall objective of the Financial Literacy Initiative (FLI) is to promote the financial skills and the knowledge of the common citizens, and to support the agenda for the broader financial inclusion in societies.

For more information, contact:
Lahore Stock Exchange (LSE)
19, Khayaban-e-Aiwan-e-Iqbal,
P.O. Box: 1315,
Lahore-54000, Pakistan
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk

Students of University of Central Punjab visit Lahore Stock Exchange as part of Campus Outreach Programme

Lahore, December 20, 2012 (PPI-OT): Students of M.COM from University of the Central Punjab visited the Lahore Stock Exchange in collaboration with South Asian Federation of Exchange (SAFE), as part of the Campus Outreach Programme under Financial Literacy Initiative.

Managing Director and Chief Executive Officer and Secretary General of South Asian Federation of Exchanges (SAFE) Aftab Ahmed Chaudhry was the chief guest of this session. Here, they were given an insight about practical aspects of various financial institutions and investment avenues by industry professionals.

The panel of professionals included Regional Head IGI Funds, Mian Qasim along with LSE officials. Regional Head IGI Funds, Mian Qasim briefed the students about local mutual funds industry and products being offered.

He informed the students that mutual funds could be an effective approach for people to start investments offering risk diversification and good returns through proficient fund management. Miss. Hifsa Siddiqi from Investor Relation Department also addressed the students and focused on the need for setting up CDC and various facilities being offered by CDC not only to add efficiency but also for increased transparency and investors confidence. She explained as to how investors can use various CDC services for protecting their portfolios.

She also talked about various operational matters and current market as well as economic conditions of the country. Later, the students visited various banks and brokerage houses where they were given synopsis on the functioning of these institutions such as live market trading, banking products and services, lending and borrowing services, clearing and local as well as international remittances, etc.

The purpose of visit was to allow the students to interact with various financial industry practitioners in a stock exchange setting and get a chance to visit different financial institutions all at one location. The Program is part of the Financial Literacy Initiative for the promotion of youngsters’ understanding of financial products and concepts, their ability and confidence to appreciate financial risks and opportunities to make informed choices, to know where to go for help, and to prepare today’s youth for better understanding of the economic/financial affairs affecting them. Educational institutions are joining hands with LSE to participate in series of sessions on financial literacy.

As part of the Campus Outreach Program, Lahore Stock Exchange has already held two sessions at University of the Central Punjab. In the first two sessions students were apprised about the savings, investment and investment alternatives, foreign exchange, stock analysis and valuation techniques, financial markets and regulatory environment, market dynamics, market indices, market sensitivity, securities evaluation including fundamental as well as technical analysis, banking services, leasing, insurance and various corporate matters as applicable in Pakistan.

The “Campus Outreach Program” has received an overwhelming acclamation from various blocs of the societies. The Program is launched under the broader Financial Literacy Initiative by the LSE in collaboration with South Asian Federation of Exchange (SAFE). Campus Outreach Program – FLI is neither intended to promote or publicize any particular type of investment or product, nor is it aimed to endorse any specific kind of financial institution or market.

For more information, contact:
Lahore Stock Exchange (LSE)
19, Khayaban-e-Aiwan-e-Iqbal,
P.O. Box: 1315,
Lahore-54000, Pakistan
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk

Suspension of trading in share of twenty nine companies and instructions to buy-back shares

Lahore, August 01, 2012 (PPI-OT): It is hereby informed to all concerned that the following companies have still failed to comply with the instructions of the Exchange to fulfill the requirement of Listing Regulation No. 30(1) (e) i.e. payment of outstanding annual listing fee and Listing Regulation No. 30(1)(g) i.e. induction of ordinary shares of the companies into CDS of Central Depository Company of Pakistan Limited within 90 days i.e. upto July 30, 2012:

1) (Colony) Sarhad Textile Mills Ltd.

2) Annoor Textile Mills Ltd.

3) Asim Textile Mills Ltd.

4) Central Forest Products Ltd.

5) Globe Textile Mills Ltd

6) Hamid Textile Mills Ltd.

7) Karim Cotton Mills Ltd.

8) Khurshid Spinning Mills Ltd.

9) Dadabhoy Construction Technology Ltd.

10) Mehr Dastagir Textile Mills Ltd

11) Morafco Industries Ltd.

12) Redco Textiles Ltd.

13) S.S. Oil Mills Ltd.

14) Saleem Denim Industries Ltd.

15) Service Fabrics Ltd.

16) Service Industries Textiles Ltd.

17) Sind Fine Textile Mills Ltd.

18) Taj Textile Mills Ltd.

In view of the above and as required under listing Regulation No. 30(2)(b), trading in the shares of the above mentioned companies suspended on August 01, 2012, in exercise of the powers vested in the Exchange under sub-section (7) of section 9 of the Securities and Exchange Ordinance, 1969 and Regulation No. 30(2)(b) of the Listing Regulations.

The Sponsors/majority shareholders of the concerned companies are hereby directed to provide to all the concerned shareholders an option for selling their shares to them at a price to be fixed by the Exchange in accordance with Regulation No. 30-A of Listing Regulations followed by delisting of the companies.

In case of failure of the sponsors/majority shareholders of the companies to comply with the compulsory buy-back direction within 30 days i.e. August 30, 2012, the

Exchange will proceed to delist such companies under the Listing Regulations. The cases of the companies will also be forwarded to SECP for initiating further action under the Companies Ordinance, 1984 against the companies/management as may be deemed appropriate.

According to another notice the following companies have still failed to comply with the instructions of the Exchange to fulfill the requirement of Listing Regulation No. 30(1)(e) i.e. payment of outstanding annual listing fee within 90 days i.e. upto July 30, 2012:

1) (Colony) Thal Textile Mills Ltd.

2) Brothers Textile Mills Ltd.

3) Dadabhoy Cement Industries Ltd

4) Dadabhoy Sack Ltd.

5) Data Textiles Ltd.

6) Genertech Pakistan Ltd.

7) Hajra Textiles Ltd.

8) Kohinoor Industries Ltd.

9) Mukhtar Textile Mills Ltd.

10) Nazir Cotton Mills Ltd.

11) Saritow Spinning Mills Ltd.

Trading in the shares of the above companies also suspended on August 01, 2012, in exercise of the powers vested in the Exchange under sub-section (7) of section 9 of the Securities and Exchange Ordinance, 1969 and Regulation No. 30(2)(b) of the Listing Regulations

For more information, contact:
Lahore Stock Exchange (LSE)
19, Khayaban-e-Aiwan-e-Iqbal,
P.O. Box: 1315,
Lahore-54000, Pakistan
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk

Lahore Stock Exchange holds Second Session of Campus Outreach Program for Global Institute

Lahore, June 27, 2012 (PPI-OT): Second session of Campus Outreach Program is held today for the students of MBA and M.Phil from Global Institute, Lahore by Lahore Stock Exchange where LSE’s officials interacted with the students.

At the event organized at the Global Institute, Lahore, Ms. Hifsa Siddiqi from Investor Relation Department, LSE explained to the participants the broad features of Pakistan’s economic and financial system, features and characteristics of different financial markets, regulatory framework, market indicators, investment products, financial services and opportunities available to investors in Pakistan and roles and responsibilities being performed by various financial institutions.

They were also given an insight about various investment avenues available in the market and their role in the economic system of the country. Ms. Hifsa also spoke on various operational matters of the Exchanges including listings, trading, corporate governance, sensitivity of Stock Market and investor protection.

She briefed and explained the participants that the financial decision making starts from the teenage, therefore, the modification of spending habits of youngsters in order to promote the habits of savings and responsible financial behavior is the need of the hour. She also focused on the classification and functions of the stock market, market indices, historical background and stakeholders of the capital market.

“Campus Outreach Program” under the broader Financial Literacy Initiative has been launched by the LSE in collaboration with South Asian Federation of Exchange (SAFE) . The basic goal of the FLI – Campus Outreach Program is to enhance youngsters’ understanding of financial products and concepts, their ability and confidence to appreciate financial risks and opportunities to make informed choices, to know where to go for help, and to prepare today’s youth for better understanding of the economic/financial affairs affecting them.

The LSE under this initiative will be conducting on-campus educational sessions, followed by practical exposure of students to the financial products/services through visits/interactions with financial institutions and encouraging participation in the financial system through games and internship program.

The overall objective of the Financial Literacy Initiative (FLI) is to promote the financial skills and the knowledge of the common citizens, and to support the agenda for the broader financial inclusion in societies

For more information, contact:
Lahore Stock Exchange (LSE)
19, Khayaban-e-Aiwan-e-Iqbal,
P.O. Box: 1315,
Lahore-54000, Pakistan
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk