SECP directs listed companies to deliver unclaimed shares

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The Securities and Exchange Commission of Pakistan (SECP) has directed all the listed companies and their Share Registrars to deliver the shares lying with them as unclaimed/undelivered to their respective holders. The reasons of piling up of these unclaimed shares are; returning back of share-certificates to the companies registrars, as undelivered due to incomplete addresses, change of addresses and non-presentation of documents regarding payment for right shares.
The details of such shares along with the Claim Form, which can be used by the shareholders to claim their undelivered shares, are available on the websites of SECP and of all the three stock exchanges. SECP has conducted a study to know the quantum of unclaimed shares lying with various listed companies. Such shares include undelivered shares issued pursuant to initial public offerings (IPOs), bonus issues, right issues etc.