The Pakistan Stock Exchange (PSX) has issued a 14-day deadline to four listed companies to address regulatory non-compliances, failing which their shares will be suspended from trading.
The companies include Dewan Mushtaq Textile Mills Limited (DMTM), Hira Textile Mills Limited (HIRAT), Sitara Peroxide Limited (SPL), and Huffaz Seamless Pipe Industries Limited (HSPI), all of which have been cited for failing to hold Annual General Meetings (AGMs) and submit audited financial statements for the past two consecutive years.
The PSX notice mandates that these companies rectify their regulatory breaches by November 6, 2024, or provide reasons for non-compliance. Should they fail to do so, trading will continue on a T+0 (SPOT) basis for an additional seven days until November 15, 2024. Following this period, the PSX will initiate a suspension of trading in these shares on November 18, 2024.
Two additional companies, Dewan Khalid Textile Mills Limited (DKTM) and Globe Textile Mills Limited (GLOT), have already had their shares suspended and are in the process of winding up.
The PSX has indicated that further actions will be taken in accordance with regulatory provisions for these entities.
