Karachi: The First Fidelity Leasing Modaraba (FFLM) is set to be placed in the Non-Compliant Segment of the Pakistan Stock Exchange (PSX) for failure to pay a penalty imposed by the exchange. This action comes as a result of FFLM’s non-compliance with Clause 5.21.1 of the PSX Regulations, which mandated the timely transmission of annual audited financial statements for the fiscal year ending June 30, 2024.

The PSX has enforced Clause 5.11.1(d) of its regulations, which stipulates that a listed company may be moved to the Non-Compliant Segment under specific conditions. These include the failure to pay annual listing fees for two years, non-payment of any penalties imposed by the exchange through a final order, or any other dues payable to the exchange as per regulations.

According to information available from the Pakistan Stock Exchange (PSX), FFLM’s placement in the Non-Compliant Segment will become effective on April 04, 2025. The action is part of the disciplinary measures enforced by the PSX to ensure compliance with its regulations.

The designated market category for FFLM will be affected due to this non-compliance, signaling to investors and stakeholders the company’s failure to meet financial obligations set by the exchange. This inclusion in the Non-Compliant Segment highlights the importance of adhering to regulatory requirements to maintain market integrity and investor confidence.