The Karachi Stock Exchange Limited’s notice of intention to suspend admission to CDS of First National Equities Limited
Karachi, March 07, 2013 (PPI-OT): 1. Whereas vide our notice of Imposition of Fine bearing no. CDC/CEO/IA/042/2013 dated February 07, 2013 (hereinafter referred to as the “CDC Notice”) issued to First National Equities Limited (hereinafter referred to as the “Participation”) pursuant to inspection of its Participant records carried out for the period from January 01 to November 30, 2012.
2. And Whereas, the Participant was required to:
a. Pay the amount of fine; and
b. To regularize the remaining discrepancies within fifteen (15) Business Days.
3. And Whereas no action was taken by the Participant with respect to the CDC Notice whereby a reminder was sent to the Participant vide our letter no. CDC/IA/062/2013 dated February 26, 2013 (hereinafter referred to as the “Reminder Notice”) advising to comply on an urgent basis;
4. And Whereas the Participant replied to our Reminder Notice requesting to grant further 15 days’ time to pay fine and regularize the discrepancies.
A. In view of the afore going facts and circumstances arising due to your conduct as a Participant, CDC is hereby granting 10 Business Days to pay the fine and regularize the discrepancies.
B. CDC also shows its intention of imposing suspension on admission of the Participant to the CDS in respect of its Participant ID No. A05587 in case of non-resolution of the discrepancies and payment of fine imposed by the above mentioned period.
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136