Karachi August 12 2022: Hascol Petroleum Limited informed that a meeting of Board of Directors will be held on Tuesday, 23 August 2022 to consider and approve the financial statements for the period ending June 2021, September 2021 and December 2021.
The Board of Directors will also consider the restructuring plan of the company.
Hascol Petroleum hit upper limit or gain PKR 1 per share to trade at PKR 4.9 per share in today’s trading at Pakistan Stock Exchange.
Earlier on 8th June2022, Pakistan Stock Exchange informed to all concerned that M/s. Hascol Petroleum Limited (“HASCOL”), already quoted in the Defaulters’ Segment on account of non-compliance, has failed to hold its Annual General Meeting and submit Annual Audited Accounts for the year ended December 31, 2021.
Hascol has failed to submit its annual audited accounts for the immediately preceding financial year as per law; Upon placement of such company on the Defaulters’ Segment, the Exchange shall only initiate actions under Regulation. However, if such company fails to submit its annual accounts for two consecutive years, trading in shares of the company shall be suspended by the Exchange and the company shall be given 90 days to rectify the non-compliance, failing which the Exchange shall initiate further actions against the company commencing from Regulation.
