Annual Report 2012 - Lahore Stock Exchange

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Market Operations DivisionName of CompanyPrice Proposed by theCompanyPrice Fixed by the ExchangeDelistingDateAtlas Engineering Limited Rs. 40.40 per Share Rs. 58/- Per Share 21-03-2012Fecto Sugar Mills Ltd. Rs. 32.23 per Share Rs. 38/- per share 22-08-2011Wazir Ali Industries Ltd. Rs. 8.55 per Share Rs. 14.50 per Share 07-05-2012In addition to the above, the section also processes therequest for issuance of additional capital by listedcompanies through right issues, bonus or issue of sharesby way of other than right offers and ensures compliancewith the relevant regulatory requirements.The Post Listing Section monitors compliance withthe continuing obligations under the Listing Regulationsof the Exchange by listed companies and also ensurestimely and accurate dissemination of materialinformation to the investors and other marketparticipants. In addition, this section is also responsiblefor handling complaints and enquiries and requests forclarification of the application of the Listing Regulations.Some of the important post listing requirements underListing Regulations include holding of Annual GeneralMeeting in accordance with the law, intimation of boardmeetings and close period, free-float update on quarterlybasis, details of shareholding, timely intimation ofmaterial information to the exchange by the listedcompanies and other requirements under the Code ofCorporate Governance.During the FY 2011-2012, the SECP introduced a newlisting regulation No. 30 under the chapter of “Delisting,Suspension and Defaulters Counter”. The new insertionprovides a better and detailed mechanism for initiatingand conducting disciplinary proceedings againstcompanies in default of various provisions of ListingRegulations. The Post Listing Section investigatespossible breaches of the Listing Regulations and initiatesthe disciplinary proceedings against defaulters. Initially,show cause notices and warnings are issued and tradingin shares of the defaulting companies is suspended. Thecompanies which remove the cause of default within thestipulated time are removed from the list of defaultersand trading in their shares is restored. The Companiesstill in default are provided with sufficient time to removethe default and an opportunity of hearing beforedelisting.The Section has initiated enforcement action against noncompliantcompanies under regulation 30 of the LSEListing Regulations. During the period under review, 34non-compliant companies have been delisted and noticesfor suspension of 36 companies have been issued onaccount of their non-compliance with various provisionsof Listing Regulations including regulation No.30(1)(b)(d)(e)(g) i.e. non-holding of AGM, liquidationthrough Court Order, non-payment of annual listing feeand failure to join CDS. The following companies havebeen delisted under Regulation 30 during the FY 2011-2012:ANNUAL REPORT 2011-12 47
Market Operations DivisionCompanies Reason of Delisting Date of DelistingAlif Textile Industries Limited Winding up through Court Order 03/02/2012Apex Fabrics Limited Winding up through Court Order 03/02/2012Dadabhoy Leasing Company Limited Winding up through Court Order 03/02/2012Delta Insurance Company Limited Winding up through Court Order 03/02/2012Indus Polyester Company Limited Winding up through Court Order 03/02/2012Islamic Investment Bank Limited Winding up through Court Order 03/02/2012Long Term Venture Capital Modaraba Winding up through Court Order 03/02/2012Mehran Jute Mills Limited Winding up through Court Order 03/02/2012Norrie Textile Mills Limited Winding up through Court Order 03/02/2012Pakistan Northern Insurance Company Limited Winding up through Court Order 03/02/2012Schon Modaraba Winding up through Court Order 03/02/2012Taga Pakistan Limited Winding up through Court Order 03/02/2012Tawakkal Garment Industries Limited Winding up through Court Order 03/02/2012Uqab Breeding Farms Limited Winding up through Court Order 03/02/2012Pak Ghee Industries Limited Winding up through Court Order 03/02/2012Siftaq International Limited Winding up through Court Order 03/02/2012Turbo Tec Limited Winding up through Court Order 03/02/2012Adil Polypropylene Products Ltd. Winding up through Court Order 26/03/2012Awan Textile Mills Ltd. Winding up through Court Order 26/03/2012Bela Engineers Ltd. Winding up through Court Order 26/03/2012Colony Woolen Mills Ltd. Winding up through Court Order 26/03/2012Crescent Spinning Mills Ltd. Winding up through Court Order 26/03/2012First Tawakkal Modaraba Winding up through Court Order 26/03/2012Harnai Woolen Mills Ltd. Winding up through Court Order 26/03/2012Junaid Cotton Mills Ltd. Winding up through Court Order 26/03/2012Kausar Paints Ltd. Winding up through Court Order 26/03/2012Muslim Ghee Mills Ltd. Winding up through Court Order 26/03/2012Pakistan Dairies Ltd. Winding up through Court Order 26/03/2012Saitex Spinning Mills Ltd. Winding up through Court Order 26/03/2012Sind Alkalis Ltd. Winding up through Court Order 26/03/2012Tawakkal Ltd. Winding up through Court Order 26/03/2012Tri-Star Shipping Lines Ltd. Winding up through Court Order 26/03/2012Kohinoor Edible Oils Ltd. Winding up through Court Order 26/03/2012Callmate Telips Telecom Ltd. Winding up through Court Order 26/03/201248LAHORE STOCK EXCHANGE
Page 1 and 2: L A H O R E S T O C K E X C H A N G
Page 3 and 4: 2LAHORE STOCK EXCHANGE
Page 5 and 6: Corporate InformationLahore Stock E
Page 8 and 9: Board of Directors
Page 10 and 11: First Board of Directorsafter Demut
Page 12 and 13: Profile of DirectorsMr. Aftab Ahmad
Page 14 and 15: Profile of DirectorsMr. Ammar-ul-Ha
Page 16 and 17: Profile of DirectorsMs. Bushra Naz
Page 18 and 19: Profile of DirectorsMr. Masood Akba
Page 20 and 21: Profile of DirectorsMr. Mumtaz Huss
Page 22 and 23: Directors’ Report
Page 24 and 25: Directors’ Reportmembers are regi
Page 26 and 27: Directors’ ReportIncomeActual Act
Page 28 and 29: Directors’ ReportDescriptionThe A
Page 30 and 31: Directors’ ReportSEGREGATION OF C
Page 32 and 33: Participation in the International
Page 34 and 35: Directors’ ReportHUMAN CAPITAL IN
Page 36 and 37: Directors’ ReportPOSSIBLE LISTING
Page 38 and 39: Directors’ ReportBOARD COMMITTEES
Page 40 and 41: Corporate Governance
Page 42 and 43: Statement of Compliance with CCGFor
Page 44 and 45: Organizational Roundup
Page 46 and 47: Market Operations DivisionMarket Op
Page 50 and 51: Market Operations DivisionThe ongoi
Page 52 and 53: Market Operations DivisionThe follo
Page 54 and 55: Corporate Management DivisionSittin
Page 56 and 57: Corporate Management DivisionHUMAN
Page 58 and 59: Corporate Management DivisionWeb an
Page 60 and 61: Regulatory Affairs DivisionSitting
Page 62 and 63: Regulatory Affairs DivisionInvestor
Page 64 and 65: Technology Services DivisionSitting
Page 66 and 67: Technology Services DivisionAssets
Page 68 and 69: Technology Services Division In ord
Page 70 and 71: Financial Management DivisionSittin
Page 72 and 73: LSE Highlights
Page 74 and 75: PictorialVisit of National Defence
Page 76 and 77: PictorialMr. Thomas Morris Chief Ec
Page 78 and 79: PictorialSECP Chairman Mohammad Ali
Page 80 and 81: Visitors’ CommentsThank you for s
Page 82 and 83: Visitors’ CommentsMany thanks to
Page 84 and 85: Financial Highlights
Page 86 and 87: Summary of key operating & financia
Page 88 and 89: Income & Expenditure StatementVerti
Page 90 and 91: Financial HighlightsBalance Sheet H
Page 92 and 93: Financials
Page 94 and 95: Auditors’ Reportaccordance with t
Page 96 and 97: Income and Expenditure AccountFor t
Page 98 and 99:
Statement of changes in Funds and R
Page 100 and 101:
Financial Notes
Page 102 and 103:
Financial Notes2.3 Constitution of
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Financial Notes2.5 Significant even
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Financial Notes- ProvisionsProvisio
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Financial Notes• Offsetting Finan
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Financial Notes5.2 Fixed assetsa) P
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Financial Notes5.4 Foreign currenci
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Financial Notes5.11 Borrowing costs
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Financial NotesooooooooIncome from
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Financial Notes8 Liabilities agains
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Financial Notes2012 2011Note (Rupee
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Financial Notes11 Trade and other p
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Financial NotesBalance of Members
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Financial Notes14.3During the year
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Financial Notes16 Property and equi
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Financial Notes2012 201118 Long ter
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Financial NotesOpening(Restated)201
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Financial Notes(c)In addition to th
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Financial Notes35 Finance cost2012
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Financial Notes39 Financial instrum
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Financial NotesBank balancesBank Ba
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Financial Notes2012 2011(Rupees in
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Financial Notes39.3.5 Operational r
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Financial Notes41.2 Classification
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Annual Report 2012 - Lahore Stock Exchange

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