LSE allows trading in Redco Textiles’ shares

RECORDER REPORT

LAHORE: Lahore Stock Exchange (LSE) has allowed trading in the shares of the Redco Textiles Limited with effect from Tuesday (today).

“All transactions taking place in the shares of the Redco Textiles will be settled through NCCPL,” a spokesman of LSE said. The spokesman said Redco Textiles Limited has rectified the default of Listing Regulation No. 30(1) (e) & (g) i.e., payment of outstanding dues of the LSE and induction of ordinary shares of the company into CDS. The ordinary shares of the company have been declared eligible for book entry transactions by the Central Depository Company of Pakistan Limited.

Managing Director and Chief Executive Officer of the Lahore Stock Exchange Aftab Ahmed Chaudhry appreciated the efforts of the Management of Redco Textile Mills Limited for rectifying the default of Listing Regulations of the Exchange.

It may be noted that the LSE had suspended trading in the shares of the Redco Textiles vide notice dated July 31, 2012.