AABS 699.97 -0.33 AATM 47.99 0.52 ABL 172.78 0.46 ABOT 1,006.16 -2.74 ACIETF 17.25 0.12 ACPL 265.20 -1.02 ADAMS 70.31 1.29 ADMM 55.51 0.71 ADOS 29.00 0.00 AEL 33.68 1.68 AGHA 6.37 -0.07 AGIC 41.01 0.01 AGICR2 5.92 0.27 AGIL 136.03 0.93 AGL 44.27 -1.23 AGP 158.30 -1.70 AGSML 8.86 0.01 AGTL 368.74 -6.24 AHCL 13.74 -0.03 AHL 110.04 -1.35 AHTM 90.85 1.36 AICL 91.62 -1.10 AIRLINK 114.99 0.00 AKBL 123.65 -0.41 AKDHL 144.00 -3.50 AKDSL 31.20 0.20 AKGL 56.40 0.17 ALAC 20.84 -0.64 ALIFE 30.05 -0.67 ALNRS 115.50 4.39 ALTN 7.42 0.86 AMBLR4 23.57 0.07 AMTEX 4.77 -0.18 ANL 9.21 0.15 ANSS 24.20 0.00 ANTM 62.00 -2.00 APL 569.96 1.07 ARCTM 71.42 -0.58 ARM 27.90 0.00 ARMG 90.22 0.00 ARPAK 126.10 -0.90 ARPL 380.11 6.77 ARUJ 11.43 0.17 ASC 7.91 -0.18 ASCR2 0.02 -0.05 ASHT 38.31 0.69 ASIC 33.06 0.00 ASL 14.82 -0.28 ASTL 18.82 -1.08 ASTM 60.97 4.97 ATBA 167.99 -1.99 ATIL 77.00 1.50 ATLH 1,639.55 -30.44 ATRL 959.23 9.23 AVN 25.07 0.17 AWTX 1,601.11 -160.11 AWWAL 10.00 0.00 BAFL 60.64 -0.06 BAFS 549.19 29.20 BAHL 168.02 0.27 BAPL 18.80 1.05 BATA 785.52 -12.37 BBFL 38.15 0.15 BCL 73.44 0.29 BCML 42.60 1.39 BECO 4.37 0.11 BELA 59.99 -0.61 BERG 112.70 4.70 BFAGRO 28.21 -0.07 BFBIO 136.81 2.95 BFMOD 28.60 -0.50 BGL 9.39 -0.26 BHAT 1,167.12 0.00 BIFO 106.58 4.28 BILF 38.39 -1.11 BIPL 24.38 -0.12 BIPLS 38.63 -0.36 BML 62.64 4.34 BNL 5.57 0.18 BNWM 61.50 0.92 BOK 26.33 0.31 BOP 31.62 -0.42 BPL 82.51 0.02 BRRG 38.54 0.44 BTL 810.38 -24.62 BUXL 328.83 25.83 BWCL 464.68 -5.32 BWHL 217.01 -2.49 CASH 50.30 0.30 CCM 41.91 1.03 CENI 33.86 0.06 CEPB 23.44 -0.19 CFL 69.85 -0.18 CHAS 85.05 -0.44 CHBL 8.87 -0.69 CHCC 312.86 -0.14 CLCPS 4.36 -0.34 CLOUD 62.85 0.00 CLOV 6.33 0.04 CLVL 24.52 0.20 CLVLR 0.08 -0.22 CNERGY 11.77 0.16 COLG 1,196.88 -23.12 CPHL 65.11 0.10 CPPL 91.09 -1.91 CRTM 62.17 0.66 CSAP 87.10 -1.90 CSIL 6.09 0.39 CSILR3 1.88 0.27 CTM 7.17 0.13 CWHC 22.03 -0.17 CWSM 51.18 0.19 CYAN 41.91 -1.06 DAAG 150.43 -3.56 DADX 149.93 -0.07 DATM 2.35 -0.20 DAWH 275.28 15.28 DBCI 10.20 0.19 DCL 9.46 -0.33 DCR 39.28 0.27 DEL 14.90 -0.61 DFML 15.82 0.01 DFSM 12.48 -0.44 DGKC 210.08 -1.92 DHPL 26.55 -0.42 DIIL 75.13 -3.47 DINT 53.14 -2.41 DLL 44.74 -0.26 DMC 160.70 0.69 DMTM 8.56 0.04 DMTX 34.96 0.46 DNCC 22.21 -0.79 DOL 30.41 -0.14 DSIL 38.20 2.21 DSL 4.58 -0.08 DSML 51.25 1.24 DWAE 24.11 -1.81 DWSM 7.76 0.54 DWTM 9.88 -0.12 DYNO 247.63 -0.47 ECOP 43.04 1.36 EFERT 210.88 1.88 EFGH 75.72 -4.68 EFUG 121.18 -3.71 EFUL 115.03 -1.97 ELCM 235.38 0.00 ELSM 196.71 -0.28 EMCO 35.05 -0.05 ENGRO 485.38 3.39 ENGROH 278.02 -1.58 EPCL 32.52 -0.36 EPQL 24.45 0.17 ESBL 13.19 0.49 EWIC 56.15 -4.72 EXIDE 417.96 5.78 FABL 96.65 1.65 FANM 15.55 0.00 FASM 310.00 7.00 FATIMA 148.96 -3.01 FCCL 62.09 -0.91 FCEL 4.73 -0.12 FCEPL 141.54 -1.96 FCIBL 249.96 19.96 FCL 23.53 0.02 FCSC 6.17 -0.23 FDIBL 2.92 -0.17 FDPL 5.44 -0.12 FECM 17.48 -0.52 FECTC 94.61 -1.38 FEM 11.72 0.13 FEROZ 364.87 0.87 FFBL 88.94 8.43 FFC 574.04 -3.95 FFL 14.73 0.53 FFLM 12.74 -0.24 FHAM 28.04 0.06 FIBLM 14.81 -0.68 FIL 301.17 0.94 FIMM 194.31 -14.67 FLYNG 43.14 0.15 FMLR 40.23 -0.77 FNEL 1.20 0.02 FPJM 18.63 -0.50 FPRM 13.53 0.90 FPRMR2 1.06 -0.09 FRCL 89.72 -3.28 FRSM 41.08 -2.56 FSWL 233.27 -10.33 FTMM 19.00 0.75 FTSM 29.87 -2.02 FUDLM 8.00 0.55 FZCM 322.13 -5.43 GADT 306.77 1.77 GAL 573.83 2.28 GAMON 22.40 1.40 GATI 84.59 -0.91 GATIR 15.04 0.04 GATM 21.44 -0.13 GCIL 34.17 -0.43 GCILB 9.30 -0.22 GCWL 11.39 0.03 GCWLR 9.01 0.00 GDL 17.79 0.50 GEMBCEM 13.30 -1.01 GEMBLUEX 6.35 0.06 GEMMEL 35.25 3.10 GEMNETS 20.01 -4.23 GEMPACRA 34.18 -3.42 GEMPAPL 10.50 0.00 GEMSPNL 85.95 8.05 GEMUNSL 20.00 0.00 GFIL 25.07 0.05 GGGL 7.66 0.00 GGL 19.42 -0.28 GHGL 40.11 -0.89 GHGL 40.01 0.52 GHNI 1,251.54 -3.46 GHNL 33.90 -0.30 GIL 3,033.67 122.74 GLAXO 341.49 1.16 GLPL 700.00 0.00 GOC 302.54 3.55 GRR 16.73 0.18 GRYL 97.50 0.00 GSKCH 120.23 -3.98 GSPM 9.22 0.02 GTECH 8.58 -0.22 GTYR 24.15 -0.02 GUSM 9.02 0.82 GVGL 49.50 -0.80 GWLC 45.79 0.05 HABSM 82.00 0.00 HACC 18.65 1.30 HAFL 458.77 -0.23 HALEON 699.88 2.38 HASCOL 17.31 0.09 HBL 313.24 0.23 HBLTETF 107.57 0.00 HCAR 208.07 2.32 HCL 959.26 9.26 HGFA 13.50 0.16 HICL 8.40 0.00 HIFA 4.80 0.07 HINO 315.08 -3.24 HINOON 968.51 -1.49 HIRAT 4.75 -0.10 HLEL 26.00 -0.25 HMB 104.20 0.40 HMM 5.80 0.01 HPL 4,044.90 62.90 HRPL 18.31 0.31 HSPI 8.81 0.82 HTL 38.22 0.18 HUBC 208.98 -1.02 HUMNL 8.80 0.16 HUSI 41.50 0.29 HWQS 18.46 -0.04 IBFL 253.00 6.87 IBLHL 40.76 -0.74 ICCI 15.24 0.09 ICI 591.53 -3.37 ICIBL 16.90 -0.10 ICL 142.41 -2.59 IDEAL 54.91 -3.44 IDRT 35.74 -0.26 IDSM 60.72 3.52 IDYM 166.40 -3.85 IGIHL 239.08 1.08 IGIL 18.52 0.00 ILP 104.34 -1.66 IMAGE 22.08 -0.13 IML 23.00 -0.55 IMS 17.99 0.49 INDU 1,837.92 -12.08 INIL 153.26 -2.74 INKL 194.29 13.44 INL 20.19 0.00 IPAK 29.09 -0.51 IREIT 7.86 -0.13 ISIL 1,790.00 -9.00 ISL 84.17 0.17 ITANZ 35.19 0.06 ITTEFAQ 8.06 -0.17 JATM 86.64 15.53 JDMT 106.32 0.53 JDWS 901.34 -33.66 JGICL 77.10 -0.50 JKSM 413.62 -1.37 JLICL 103.49 0.59 JOPP 160.06 -11.94 JSBL 12.09 0.10 JSBLR1 0.01 0.00 JSCL 20.45 0.24 JSGBETF 41.92 -0.01 JSGCL 138.41 0.00 JSIL 33.25 0.93 JSMFETF 10.05 0.14 JSML 53.55 1.04 JSRR 10.57 0.04 JUBS 52.63 2.62 JVDC 135.48 0.38 KAPCO 25.86 0.03 KASBM 1.19 0.00 KCL 160.00 -14.00 KEL 6.16 -0.08 KHSM 11.65 0.00 KHTC 278.23 8.21 KHYT 1,609.92 11.23 KML 9.02 0.18 KOHC 98.28 -2.72 KOHE 15.14 0.26 KOHP 21.29 -1.11 KOHTM 89.77 -0.58 KOIL 34.60 -0.90 KOSM 5.68 -0.11 KPUS 1,026.92 -21.08 KSBP 112.37 -2.61 KSBP 212.29 -0.71 KSBPR 3.02 0.72 KSTM 13.72 0.02 KTML 42.65 -0.55 LCI 189.88 1.88 LEUL 68.51 -4.49 LIVEN 36.90 -1.18 LMSM 63.91 0.00 LOADS 12.25 -0.23 LOADSR1 0.09 -0.10 LOTCHEM 25.05 0.05 LPGL 100.37 7.37 LPL 18.08 -0.91 LSECL 5.56 0.12 LSECLR 0.36 -0.39 LSEFSL 2.28 -0.02 LSEPL 4.65 -0.05 LSEVL 12.00 -0.11 LUCK 445.06 -4.93 MACFL 55.14 4.94 MACTER 252.31 1.86 MARI 663.86 -4.14 MARI 634.37 2.39 MCB 409.15 -1.85 MCBAH 24.00 0.00 MCBIM 127.93 -0.87 MDTL 8.16 0.04 MEBL 563.92 -6.86 MEHT 127.94 -2.06 MERIT 9.22 0.04 META 9.67 -0.83 MFFL 148.90 -0.10 MFFLR1 9.01 0.06 MFL 41.40 0.01 MIIETF 16.77 0.05 MIRKS 30.08 0.06 MIRKSR 8.67 0.12 MLCF 105.27 -1.72 MODAM 5.73 -0.09 MQTM 26.34 -0.66 MRNS 59.99 -1.01 MSCL 22.46 -1.49 MSOT 143.55 4.59 MTL 297.59 -0.41 MUGHAL 63.10 -0.80 MUGHALC 65.40 -4.57 MUREB 909.99 -10.00 MWMP 67.77 1.12 MZNP-ETF 18.25 0.02 NAGC 87.00 0.00 NATF 336.12 0.12 NATM 77.94 6.41 NBP 180.57 -3.27 NBPG-ETF 26.62 -0.41 NCL 44.66 -0.78 NCML 14.46 0.46 NCPL 53.33 -1.46 NESTLE 6,952.75 -32.24 NETSOL 116.92 -1.05 NEXT 16.65 0.25 NGLEL 15.27 0.83 NICL 276.02 -1.73 NITG-ETF 34.00 -1.01 NML 134.42 -2.56 NNAR 21.00 0.00 NONS 88.47 -1.48 NPL 54.79 -1.68 NRL 451.02 5.02 NRSL 35.78 -0.02 NSRM 190.55 -13.25 OBOY 14.63 0.16 OBOYR2 0.64 -0.39 OCTOPUS 26.04 0.06 OGDC 316.09 -1.91 OLPL 24.15 -0.45 OLPL 45.86 -0.11 OLPM 24.51 -0.34 OML 203.93 0.00 ORIXM 16.29 0.29 ORM 10.80 -0.16 OTSU 443.37 -13.62 PABC 100.26 0.26 PACE 9.39 0.01 PAEL 35.44 0.50 PAKD 114.15 -1.83 PAKL 66.94 1.94 PAKMI 1.30 -0.01 PAKOXY 350.22 0.22 PAKQATAR 16.30 0.29 PAKRI 16.59 0.13 PAKT 1,513.79 -6.20 PASL 9.96 0.33 PASL 0.75 0.00 PASM 9.51 -0.28 PCAL 130.11 0.11 PECO 1,055.02 71.02 PGLC 13.79 0.21 PHDL 50.40 1.60 PIAA 22.17 0.17 PIAB 828.42 57.80 PIAHCLA 23.43 -0.17 PIAHCLB 14,225.00 224.99 PIBTL 13.79 -0.08 PICT 43.83 0.08 PIL 5.83 0.38 PIM 169.92 -29.07 PINL 9.80 0.10 PINLR 0.46 -0.16 PIOC 274.68 -4.32 PKGI 24.30 -0.57 PKGIR 1.36 -0.69 PKGP 29.63 -1.06 PKGS 624.85 0.63 PMI 4.70 0.19 PMPK 1,431.85 121.85 PMRS 417.47 7.54 PNSC 575.17 -0.83 POL 670.38 5.21 POML 161.00 8.50 POWER 22.52 -0.03 PPL 225.35 -1.64 PPP 121.37 -0.63 PPVC 17.76 -0.33 PQGTL 12.82 -0.03 PREMA 30.77 -0.24 PRET 696.24 -26.76 PRL 80.39 2.39 PRWM 55.47 2.07 PSEL 1,288.35 48.60 PSMC 609.00 0.00 PSO 374.68 12.68 PSX 43.41 0.65 PSYL 289.39 -6.70 PTC 48.02 0.02 PTL 47.04 0.54 QTECH 34.31 0.31 QUET 14.91 -0.08 QUICE 27.54 0.14 RCML 400.22 -4.78 REDCO 26.13 0.02 REWM 170.00 2.95 RICL 11.45 0.01 RMPL 8,487.30 166.30 RPL 15.60 -0.15 RUBY 19.64 0.04 RUPL 27.01 0.41 SAIF 37.74 -1.21 SANE 8.07 -1.13 SANSM 133.10 3.10 SAPL 870.00 0.00 SAPT 1,570.00 -29.00 SARC 77.11 5.61 SASML 310.00 -1.10 SAZEW 1,502.74 -7.06 SBL 13.76 -1.18 SCBPL 62.39 1.78 SCL 750.07 0.07 SEARL 81.06 -0.92 SEARLR2 0.15 -0.10 SEL 23.49 0.44 SELECT 22.58 -0.11 SEPL 141.10 -2.96 SERT 35.36 -0.01 SFL 944.91 -55.07 SGF 107.91 0.17 SGPL 22.49 -0.31 SGPL 33.89 -7.52 SGPLR 9.76 -1.21 SHCM 84.69 5.69 SHDT 42.91 -0.59 SHEL 185.01 -4.09 SHEZ 261.12 -18.83 SHFA 438.19 -0.80 SHJS 148.00 -0.49 SHNI 8.05 0.05 SHSML 350.00 5.00 SIBL 9.53 0.00 SIEM 1,553.45 11.44 SILK 1.15 -0.01 SINDM 65.59 -0.40 SITC 620.10 -0.88 SKRS 23.04 0.43 SLGL 14.88 0.40 SLL 1.70 -0.44 SLM 22.02 -0.23 SLYT 15.47 1.22 SMBL 2.17 -0.03 SMCPL 39.74 0.86 SML 83.19 -4.81 SMTM 11.90 -0.09 SNAI 36.00 -0.99 SNBL 19.03 0.03 SNGP 94.73 0.48 SOYASUP 27.57 0.07 SPAC1 21.06 -0.04 SPAC2 15.74 0.37 SPEL 48.11 4.60 SPEL 48.93 0.04 SPL 48.95 -0.16 SPLC 1.70 0.07 SPSL 13.38 0.20 SPWL 7.77 0.03 SRR 17.96 -0.04 SRVI 173.96 1.96 SSGC 24.41 0.42 SSML 19.06 0.07 SSOM 435.09 -4.24 STCL 9.07 -0.25 STJT 120.08 -7.92 STL 23.06 -0.09 STLR 12.19 -0.33 STML 65.99 1.99 STPL 7.78 0.03 STYLERS 49.35 -0.65 STYLERSR 1.72 0.39 SUHJ 22.20 0.00 SURC 129.52 -2.48 SUTM 142.74 -7.26 SWL 316.53 28.78 SYM 10.53 0.18 SYS 119.48 1.08 SZTM 147.64 -2.36 TATM 141.90 -3.00 TBL 9.38 -0.01 TCORP 19.31 -2.20 TCORP 19.63 -0.44 TCORPR1 0.79 -0.73 TELE 7.59 0.27 TGL 180.14 -2.86 THALL 549.80 -5.20 THCCL 77.23 3.93 TICL 912.79 2.58 TISL 6.24 1.00 TOMCL 29.75 -1.02 TOMCLR 3.81 1.00 TOWL 127.23 -5.67 TPL 25.34 -0.26 TPLI 100.01 -0.53 TPLL 13.01 -0.22 TPLP 13.10 -0.83 TPLRF1 8.57 -0.23 TPLT 45.10 -0.88 TREET 25.04 -0.74 TREETR2 5.62 0.65 TRG 54.83 0.05 TRIPF 125.10 1.10 TRSM 14.37 -0.22 TSBL 2.22 -0.01 TSBLR1 0.18 -0.04 TSMF 14.99 -0.21 TSML 435.01 -14.98 TSPL 14.36 -0.15 UBDL 24.74 -2.24 UBL 441.72 -3.58 UBLP-ETF 30.19 -0.09 UCAPM 23.07 0.00 UDLI 15.64 0.09 UDPL 89.63 -0.66 UNIC 11.92 0.56 UNITY 8.34 -0.31 UPFL 26,460.00 643.00 UVIC 22.38 1.39 WAFI 170.68 2.68 WAHDAT 14.84 -0.35 WAHN 231.88 -2.56 WASL 7.06 0.05 WASLR 0.79 0.15 WAVES 9.10 -0.17 WAVESAPP 7.01 -0.05 WAVESAPPR 0.06 -0.11 WHALE 8.01 -0.19 WTL 1.22 0.20 WYETH 2,008.00 8.00 YOUW 4.99 -0.15 ZAHID 56.68 -0.20 ZAL 33.08 -0.25 ZIL 287.92 -5.09 ZTL 16.82 -0.19 ZUMA 30.45 -0.28

Minority shareholder oppression

March 05, 2024

The Securities & Exchange Commission of Pakistan (SECP) has recently published a report on ‘enhancing transparency and efficiency’ of the shareholder meetings, seeking public comments on it. It recommends changes for conducting shareholder meetings, election of directors, issues related to proxies, voting processes, and monitoring mechanisms. According to the report, redressal of issues faced by minority shareholders and effective participation by the institutional investors may go a long way in improving the listed companies’ transparency, efficiency and governance through greater participation of minority shareholders in the management and policy decision-making. The report has been prepared by a 10-member committee led by Asif Ali Qureshi, the CEO of Optimus Capital Management. It is a comprehensive review of how shareholder meetings by listed companies are conducted.