December 16, 2001	Sunday	Ramazan 30, 1422

KARACHI, Dec 15: KSE has decided that all listed companies and issuers of listed securities will use fax machines to fax financial results/material information only through telephone numbers, which have been notified to the Exchange.

According to KSE notice, issued to all listed companies here on Saturday, the decision has been taken in order to streamline the transmission of the financial results and material information and its speedy dissemination to members/investors.

KSE had received a fax message, reportedly from Hub Power company, announcing that the lenders have approved the payment of the final cash dividend, which was promptly conveyed to the members/investors. The company, however, next day declared that it had not sent any fax message and actual approval for payment of dividend was given by the lender much later than the ‘fake’ fax message.

Under the decision, the validity of the telephone numbers from which the financial results and material information will be faxed to the Exchange, will be checked by KSE using Caller Line Identification (CLI) facility at the time of transmission.

Furthermore, the relevant information on following Forms of the Correspondence Manual of the Exchange already circulated to all listed companies on May 29, 2000 and as updated vide Notice KSE/N-3389 on November 12, 2001 should be sent to the exchange only on Fax numbers 241 5763 or 243 7560 during trading hours of KSE.

To convey information about Board meeting, Form 1 be used, Financial results for the year on Form 3, Financial results for the quarter/half year on Form 7, Declaration of interim cash dividend/interim bonus shares on Form 15, Declaration of Right Shares on Form 16, Change of management on Form 23 and Material changes be sent to KSE on Form 26.

KSE asked all the listed companies to inform it about the telephone number(s) from which they will be sending its fax(es) to the Exchange latest by December 31, 2001.

RULES NOTIFied: Securities and Exchange Commission of Pakistan has informed the Karachi Stock Exchange that only those members would be allowed to deal in securities with effect from January 2002, who are registered with the commission under Brokers’ and Agents Registration Rules, 2001.

According to a notification of KSE issued on Saturday, under the said rules, a member desirous of acting as a broker has to make an application to the SECP in Form A for grant of certificate of registration through the stock exchange of which he is a member. The members who are working as brokers before coming into force of these rules were required to apply for registration in the prescribed manner within 90 days of the date of coming into force of these rules.

The Karachi Stock Exchange forwarded 133 applications of the members under the rules. The certificates of registration have been issued to all the applicants except two applicants pending for registration due to deficiency of requisite documents, SECP informed KSE.

—APP