Karachi September 15 2022: Pakistan Stock Exchange informed that Sakrand Sugar Mills Limited will remain in the Defaulter Segment despite submitting annual accounts and convened the AGM.
Earlier, Pakistan Stock Exchange notified non-compliance of PSX Regulations by Sakrand Sugar Mills Limited (“SKRS”) i.e. failure to hold its Annual General Meeting and submit its Annual Audited Financial Statements for the year ended December 31, 2021 within the stipulated time, was notified for information of all concerned.
It is pertinent to mention that SKRS is presently quoted in the Defaulters’ Segment on account of non-compliances of three PSX Regulations namely failure to submit Annual Audited Accounts, Holding of AGM and Adverse Opinion by the Auditor.
In this context, it is hereby informed to all concerned that SKRS has submitted its Annual Audited Financial Statements and convened the overdue AGM for the year ended December 31, 2021. In view thereof, the non-compliances of SKRS for the two of three PSX Regulations stands rectified.
However, as a consequence of non-compliance of PSX Regulation regarding adverse opinion issued by the statutory auditor in the audit report for the year ended December 31, 2021, SKRS shall continue to be quoted in the Defaulters’ Segment till the time all the non-compliances are rectified.
