The Securities and Exchange Commission of Pakistan (SECP) has directed the board of directors of listed companies to explain the basis for valuation for taking decisions of mergers, acquisitions, investments, divestments and sale of assets.
The SECP has also directed listed companies to clearly state in the notice of general meetings that no gifts will be distributed during these meetings.
The SECP issued S.R.O.452(I)/2025 in continuation of S.R.O. 423(I)/2018 dated April 3, 2018 and S.R.O.389(I)/2023 dated March 21, 2023.
The SECP hereby directs listed companies that in case of mergers, acquisitions, investments, divestments, sale of assets, the company shall explain the basis for valuation and other considerations that the company’s board of directors relied on for its decision in the notice of the general meeting, SECP said.
The notice of general meeting shall be circulated to members through email in addition to annual audited financial statements, in case email address has been provided by the member to the company regardless of the fact that the consent of member to receive the notice through email has been received or not; and
The notice of general meetings shall clearly state that no gifts will be distributed at the meeting, SECP added.
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