Karachi: The Searle Company Limited has reported a significant loss of share certificates belonging to a deceased shareholder, Mohammad Sarfraz. The announcement made today details the misplacement of various certificates totaling an impressive 3,533 shares. The certificates range across multiple serial numbers from 42817 to 31328969, indicating a widespread issue.

The largest batch of shares lost in a single certificate is 738 shares, associated with certificate number 240579275. Meanwhile, smaller amounts, such as 15 or 17 shares, are also reported missing across various other certificates. The company's folio number for these transactions is 11573. The Searle Company has promptly informed its stakeholders and the Pakistan Stock Exchange (PSX) to prevent any unauthorized trading of these shares.

According to information available from the Pakistan Stock Exchange (PSX), this incident could significantly impact market stability if the shares are unlawfully traded. In response, the company has issued a caution to the exchange members not to deal with these shares until further verification is completed. If no objections are raised within seven days, The Searle Company will proceed to issue duplicate certificates to safeguard the interests of the shareholder’s estate.

This precautionary measure is crucial in maintaining the integrity of the market and ensuring the rights of shareholders are not compromised due to the misplacement of these critical documents.