RECORDER REPORT

KARACHI: Pakistan International Airlines Corporation Limited has been placed in the Defaulters’ Segment of the Pakistan Stock Exchange (PSX) with effect from Wednesday, October 10, 2018 (today).

In its notice sent to all concerned, Pakistan Stock Exchange said that M/s Pakistan International Airlines Corporation Limited has failed to hold its Annual General Meeting and submit Annual Audited Accounts for the year ended December 31, 2017. The said defaults attracts action under clauses 5.11.1( c ) (d) of PSX Regulations.

According to these Clauses of PSX Regulations, a listed company may be placed in the Defaulters’ Segment if it has failed to hold its one Annual General Meeting as per law or it has failed to submit its Annual Audited Accounts for the immediately preceding financial year as per law.

“In this context, it is hereby informed to all concerned that in line with the requirements of Clauses 5.11.1 ( c ) and (d) of PSX Regulations, M/s Pakistan International Airlines Corporation Limited will be placed in the Defaulters’ Segment of the Exchange w.e.f. Wednesday, October 10, 2018,” the notice said.