Karachi, In a recent announcement by the Pakistan Stock Exchange (PSX), trading in the shares of M/s. ICC Industries Limited will remain suspended. This decision follows the company's continued non-compliance with Clause 5.11.1(e) of the PSX Regulations, specifically relating to the non-payment of dues owed to the Exchange. The suspension, initially mentioned in PSX Notice No.PSX/N-103 dated February 01, 2024, is set to extend for another 60 days starting from April 02, 2024, or until the company rectifies the cause of suspension.
The PSX's decision to prolong the suspension comes under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. Despite the ongoing suspension, ICC Industries Limited is reportedly in the process of correcting the default. The PSX has indicated that the company's shares will be moved back to the Normal Counter, and trading will resume once ICC Industries Limited completes all requisite formalities that have been communicated to it.
The notice serves as a record for all concerned parties regarding the continued trading suspension of ICC Industries Limited.