Security Leasing Updates PSX on Creditor Settlements and Recovery Efforts

Security Leasing Corporation Limited has provided an update to the Pakistan Stock Exchange regarding its financial position and ongoing efforts to settle outstanding amounts with creditors.

The company said discussions with creditors are continuing, with some creditors already settled and others expected to be resolved shortly. Security Leasing also expects to receive a substantial recovery from one of its debtors, which it said would support the company in meeting its financial obligations and continuing operations.

The company further noted that proceedings concerning the cancellation of its licence are ongoing. It said the Sindh High Court has restrained the respondents from taking adverse or coercive action against the company, with the restraint also covering winding-up and delisting proceedings.

Security Leasing stated that it continues to work on settlements and recoveries on a regular basis and will keep the PSX informed of any material developments.