Islamabad: A significant loss of share certificates for Sui Northern Gas Pipelines Limited has been reported by the legal heirs of the deceased shareholders, highlighting issues within the management of physical share documents.
According to information available from the Pakistan Stock Exchange (PSX), the heirs have notified that several share certificates were misplaced or lost. The certificates in question were linked to verified and unverified transfer deeds. The reported losses involve a total of 220 shares, distributed among five distinct certificates, each under the names of various shareholders.
The largest single loss reported includes 50 shares associated with shareholder Mrs. Humera Hakim Malik, under certificate number 1132607. Other significant losses include 57 shares linked to two certificates in the name of Muhammad Azam, with the distinct numbers ranging from 54928411 to 54928437.
PSX advises members and stakeholders not to engage in transactions with these shares until further notice. If no objections are raised within three days from this notice's publication, duplicate certificates will be issued to the heirs. This measure is part of the regulatory procedures to safeguard shareholder rights and prevent fraudulent activities involving share certificates.
The company has made it clear that no claims concerning these shares will be entertained after the issuance of duplicates, stressing the importance of timely reporting and verification in such incidents.