The Karachi Stock Exchange (KSE) has suspended trading in shares of two listed companies - S S Oil Mills and Sakrand Sugar Mills - for the period of sixty days with effect from December 30, 2011 to initiate the process of re-verification of share certificates/transfer deeds, in view of their physical fake/forged shares in circulation in the market.
The decision was taken in the KSE board meeting held here on Tuesday. The board also approved the revised Internet Trading Regulations after incorporating the amendments suggested by the Securities and Exchange Commission of Pakistan (SECP).
According to a KSE notice issued here on Wednesday, the board of directors approved the Top 25 companies for the year 2010, as selected in terms of the prescribed criteria. The board also approved that the said criteria to be followed for the year 2011 without any change.
The revised procedure for 'Senior Member Award' was also approved by the KSE board of directors, whereby members of the Exchange will be considered as individual and their seniority will be taken into account from the day of their association with the Exchange, despite the fact if their individual membership was converted subsequently to Corporate or they shifted to another brokerage house, by maintaining the continuity without any break through their representation as Nominee Director.
The KSE board of directors recommended to National Clearing Company of Pakistan Limited (NCCPL) to consider providing waiver or relaxation of UIN Registration Fee for those employees of brokerage houses, who do not opt for trading, by simply registering those inactive employees into their database.
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