The Lahore Stock Exchange Limited, after due consideration of facts and circumstances and in exercise of the powers vested in it under Section 9(4) of the Securities & Exchange Ordinance, 1969 and Listing Regulations of the Exchange, has decided to delist Taxila Engineering Ltd, from the Ready Board Quotation of the Exchange w.e.f., November 11, 2013.
After the delisting of Taxila Engineering Limited from the LSE, the number of listed companies will remain as 436. Trading in the shares of the company has already been suspended w.e.f., August 16, 2010 on the order of SECP. Joint official liquidators for the company were appointed vide winding-up order of the Peshawar High Court received from SECP through letter No EMD/233/431/2002-173. It may be noted that Taxila Engineering Limited was listed at LSE in the year 1988 and its total paid up capital is Rs 42.500 million.
The company is under violation of Listing Regulations No 30(1)(b)(c)(e)(g) of the Exchange ie non-holding of AGM, had gone into liquidation through Court Order, non-payment of annual listing fee and non-induction of ordinary shares of the company into CDS of the Central Depository Company of Pakistan Ltd.
Managing Director and Chief Executive Officer of Lahore Stock Exchange Aftab Ahmed Chaudhry highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. LSE is a fully electronic and completely automated stock exchange that is the only domestic exchange to have more than one trading floors in the region.
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