ISLAMABAD: The National Clearing Company of Pakistan Limited (NCCPL) has informed clearing members about the change in the face value of Kohat Cement Company Limited (PSX: KOHC) shares, which will take effect from August 25, 2025. In line with this change, NCCPL has also updated the clearing and settlement schedule for both regular and leverage markets, as per a statement issued today.
The revised schedule outlines the trading and settlement dates for various market types, ensuring smooth operations following the face value adjustment. The changes are as follows:
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19-08-2025 (T+2): Settlement date on 21-08-2025, with any pending deliveries to be squared up or closed out by 22-08-2025.
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20-08-2025 (T+2): Settlement date on 22-08-2025, with pending deliveries to be squared up or closed out by 22-08-2025.
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21-08-2025 (T+0): Settlement date on 21-08-2025, with any pending deliveries to be squared up or closed out by 22-08-2025.
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22-08-2025 (T+0): Settlement date on 22-08-2025, with any pending deliveries to be closed out by 22-08-2025.
The updated schedule also includes the margin financing system (MFS) and securities lending & borrowing (SLB) processes, with specific instructions regarding forced releases and transfers of positions.
NCCPL further clarified that trades executed under the new face value will continue to follow the usual settlement cycle, with certain operational conditions. Notably, netting will not be allowed between T+2 and T+0 trades on the same settlement date, and the Institutional Delivery System (IDS) will remain unavailable for T+0 trading.
The adjustments are part of the ongoing efforts to streamline operations and ensure consistency in the market as the new face value of Kohat Cement shares takes effect.
