Islamabad: Two major Pakistani corporations, Chakwal Spinning Mills Limited and Mari Petroleum Company Limited, have announced the loss of several share certificates. Shareholders of both companies have reported missing certificates totaling 2,468 shares. The companies have issued indemnities and are prepared to issue duplicate certificates if no claims are made within seven days of the circulars issued by the Pakistan Stock Exchange.

According to information available from the Pakistan Stock Exchange (PSX), Chakwal Spinning Mills Limited has reported a loss of ten share certificates covering 1,000 shares. The shareholder in question, Mr. Saqib Bashir, with Folio No. 4852, had certificate numbers 48070 to 48079 with distinctive numbers from 4806901 to 4807900. In response, Chakwal Spinning Mills has filed an indemnity claim and plans to issue duplicate certificates if no further claims are made soon.

Similarly, Mari Petroleum Company Limited reported the loss of nine share certificates totaling 1,468 shares, attributed to shareholder Mr. Asim Nisar under Folio No. 7493. The certificates in question range over several numbers and distinctive IDs, specifically impacting 300 shares under certificates 30171 to 30173, 225 shares under 45432 to 45434, 525 shares under certificate 52352, 262 shares under 53042, and 156 shares under 54488. Mari Petroleum has also taken the step of issuing an indemnity and is on the brink of issuing duplicates barring any forthcoming claims.

These incidents highlight a rare but critical issue within the stock certificate management practices of Pakistani corporations. The potential issuance of duplicate shares follows a standard seven-day waiting period, as stipulated by the guidelines of the Pakistan Stock Exchange.