Lahore: The Pakistan Stock Exchange (PSX) has announced disciplinary actions against Unicap Modaraba following violations of several disclosure and reporting obligations, as outlined in Chapter 5 of the PSX Regulations. The enforcement order, dated September 29, 2025, underscores the PSX's commitment to maintaining transparency and compliance among its listed entities.

According to the enforcement order, Unicap Modaraba faced several charges including non-dissemination of annual and quarterly financial results, delayed transmission of annual audited financial statements, non-dissemination of notice of annual review meetings through PUCARS, delayed transmission of quarterly financial statements, and delayed or non-submission of quarterly free-float details and annual free-float certificates. Additionally, there was a failure to notify the holding of board meetings and the non-holding of corporate briefing sessions.

As a result of these non-compliances, the PSX has directed Unicap Modaraba to pay an aggregate fine of PKR 3,134,500. The Modaraba has been instructed to coordinate with the PSX's Finance Department to resolve outstanding issues, submit the required annual free-float certificate by the stipulated deadline, and ensure strict compliance with all PSX regulations going forward.

The listed Modaraba, regulated under the Modaraba Regulatory Framework, responded by highlighting its status as a specialized company. It noted that annual accounts are required to be circulated to certificate holders within six months from the close of the accounting year, as stipulated by the Modaraba Ordinance 1980. According to information available from the Pakistan Stock Exchange (PSX), Unicap Modaraba had submitted quarterly accounts to the Securities and Exchange Commission of Pakistan (SECP) in a timely manner and disseminated the same through its website.

The Appellant Committee of PSX, in its decision dated January 22, 2026, upheld the imposed fine and directed Unicap Modaraba to comply with all issued directions. The PSX has emphasized the importance of timely intimation of board meetings for consideration of financial results, immediate dissemination of annual and quarterly financial statements, and proper notification of annual review meetings and corporate briefing sessions.

This action reflects the PSX's rigorous oversight in ensuring listed entities adhere to regulatory frameworks, safeguarding the interests of investors and maintaining the integrity of the market.