Karachi: Hascol Petroleum Limited and SME Leasing Limited, two companies already listed in the "Non-Compliant Segment" of the Pakistan Stock Exchange (PSX), are facing additional regulatory actions due to their failure to comply with PSX Regulations 5.11.1.(b) and (c). This development was announced as of May 6, 2025, marking a critical juncture for these companies under the stock exchange's stringent compliance framework.
The companies were previously noted for non-compliance related to different regulations, but both have now failed to hold their Annual General Meetings (AGM) and present their Annual Audited Financial Statements for the year ending December 31, 2024. Specifically, Hascol Petroleum Limited, symbolized as HASCOL, and SME Leasing Limited, symbolized as SLL, have not met the obligations set forth by the PSX.
According to information available from the Pakistan Stock Exchange (PSX), the non-compliance primarily revolves around two critical areas: the failure to hold an AGM or Annual Review Meeting (ARM) and the failure to submit annual audited financial statements. The PSX mandates that companies must fulfill these requirements to maintain their listing status. Should a company fail to hold its AGM or submit its financial statements for two consecutive years, trading in its shares may be suspended.
Trading in SME Leasing Limited’s shares is already suspended due to prior non-compliance. For Hascol Petroleum Limited, the PSX has stipulated that if the company does not rectify its non-compliance by holding the requisite AGM or submitting its financial statements by November 6, 2025, a Risk Warning Alert (RWA) will be issued. Continuing failure in these areas could lead to the suspension of trading in Hascol's shares, further impacting the company's market standing.
The PSX's regulations are designed to ensure transparency and accountability among listed companies. The actions taken against Hascol Petroleum Limited and SME Leasing Limited underscore the exchange's commitment to uphold these principles within the designated market category of listed entities.