V. DIVIDENDS AND ENTITLEMENTS

Posted on June 21, 2008

 

1. Every listed company shall advise and keep advised by appropriate writings the Exchange of all dividends and entitlement in respect of its listed securities immediately upon recommendations by its directors through a letter to be delivered under a sealed cover during trading hours of the Exchange.
2. Listed companies, holding their board meetings outside Islamabad, shall advise the Exchange and convey full particulars as in sub‑regulation (I) including the place, address and time, during its time, during its trading hours by fax followed by a letter of confirmation.
3. Intimation of dividend and of all other entitlements shall be sent to the Exchange not later than 15 days prior to commencement of the book closure.

1. Every listed company shall send to the Exchange its financial results, both in the case of half yearly and annual accounts, in such form as may be prescribed by the Exchange as soon as these are approved by the directors of the company.

1. The Company shall send to the Exchange 100 copies each of statutory reports, annual reports and audited accounts not later than 21 days before a meeting of the shareholders is held to consider the same.
2. The company shall send to the Exchange copies of all notices as well as resolutions prior to their publications and dispatch to the shareholders and also file with the Exchange certified copies of all such resolutions as soon as these have been adopted and become effective.
3. The company shall send to the Exchange such number of copies of its quarterly accounts as prescribed by the Exchange from time to time and within the time stipulated under Ordinance.
4. All listed companies are required to transmit the quarterly/ annual accounts on the website of the Exchange (www.ise.com.pk) and it would be sent in Portable Document Format (PDF) with digital signatures at the following e-mail address: ise@ise.com.pk and dca@ise.com.pk

1. (1) Every listed company shall;

1. dispatch the interim divided warrants to the shareholders concerned within 45 days from the date of commencement of closing of share transfer register for purpose of determination of entitlement of dividend;
2. dispatch the final dividend warrants to the shareholders concerned within 45 days from the date of General Meeting in which the same has been approved;
3. intimate the Exchange immediately as soon as all the dividend warrants are posted to the shareholders;
4. dispatch interim and final dividend warrants to the shareholders by registered post unless those entitled to receive the dividend require otherwise in writing.

1. (2) All dividend warrants, in addition to the place of the Registered Office of the issuing companies, shall be encashable at Karachi, Hyderabad, Sukkur, Quetta, Multan, Lahore, Faisalabad, Islamabad/Rawalpindi and Peshawar for a period of three months from the date of issue.

   (3) A listed company, which makes a default in complying with the requirements of these Regulations, shall pay to the Exchange penalty of Rs. 500/‑ (Rupees five hundred only) for every day during which the default continues. The Exchange may also notify the fact of such default and the name of defaulting company by publication in the official quotation list of the Exchange.

   (4) The Board may suspend or if so decides, delist any company which makes a default in complying with the requirements of this Regulation.

   (5) Any action under these Regulations shall be without prejudice to the action or steps taken by any other person or authority.