Forfeiture of Trading Right Entitlement certificate of M/s ACE Securities (Private) Limited and invitation of claims against them by Karachi Stock Exchange Limited

Karachi, May 15, 2015 (PPI-OT): All TRE Certificate Holders and concerned are hereby informed that as resolved by the Board of Directors – KSEL in its meeting held on May 15, 2015, TRE Certificate of M/s. ACE Securities (Private) Limited (“ACE Securities “) has been forfeited, with immediate effect, due to its financial precariousness as evident from non-resolution of large number of investors’ claims.

It may be noted that the forfeiture of TRE Certificate of ACE Securities by KSEL shall not affect the rights of their clients/ creditors in any manner and said corporate entity remains responsible for discharging all its financial obligations.

All concerned, including TRE Certificate Holders of Karachi Stock Exchange Limited (“KSEL”) and investors/ clients of the above referred former brokerage house are requested to submit their claims arising out of the transaction(s) made subject to the regulations of the KSEL, if any, against the aforementioned brokerage house with Default and Arbitration Wing of KSEL alongwith all the documentary evidences and duly filled “Investors’ Claim Form”, either by downloading claim form from KSEL website: i.e. www.kse.com.pk or directly through online e-complaints at; http://csir.kse.com.pk

Please note, those who have already lodged their complaints/claims against the said brokerage house should not send their complaints again as these are already being processed by the KSEL. However, in case they need to submit additional evidences in support of their already lodged claims, they may submit relevant documents to the KSEL within specified time by specifically mentioning their assigned claim number against their claim as reference.

KSEL will scrutinize all the invited claims received with available records of the said former TRE Certificate Holder, Central Depositary Company and payments/ receipts proving documents including; bank statements/ cheques to ascertain its legitimacy. In order to verify each claim and to ascertain its genuineness, KSEL has employed the services of a reputed firm of chartered accountants.

Please be informed that KSEL reserves the right to take appropriate legal action against those who lodge false or fictitious claims. It may please be noted that last date for submission of claims against ACE Securities is Monday, June 15, 2015 after that no claim shall be entertained by the KSEL.

For more information, contact:
S. Munawar Ali
Senior Manager
Public Relations
Karachi Stock Exchange Limited (KSEL)
Tel: (+92-21) 111-001122
Fax: (+92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk