Karachi: Siddiqsons Tin Plate Limited (STPL) has been placed in the Defaulters' Segment by the Pakistan Stock Exchange (PSX) following regulatory breaches, according to a notice issued by the PSX. The placement, effective from December 5, 2024, is due to the company's failure to hold its Annual General Meeting (AGM) and transmit its Annual Audited Financial Statements for the fiscal year ending June 30, 2024.

The company has been granted a six-month period, until June 5, 2025, to rectify these defaults. If STPL fails to address the issues within this timeframe, a Risk Warning Alert will be issued. Persistent non-compliance, such as failing to conduct the AGM or transmit the required financial statements for two consecutive years, could lead to the suspension of trading in STPL shares.

According to information available from the Pakistan Stock Exchange (PSX), the current directors and substantial shareholders of STPL include Mr. Abdul Wahab, Mr. Munir Qureshi, Mr. Ibrahim Shamsi, Mr. Muhammad Tariq Rafi, and Ms. Alia Sallad, with Mr. Muhammad Tariq Rafi holding the largest share at 45.22 million.

The PSX notice also lists Siddiqsons Limited as an associated company with a 15.65% shareholding in STPL. Stakeholders and the general public are advised to note the ongoing developments.