Karachi: Trading in the shares of Haji Mohammad Ismail Mills Limited will continue to be suspended due to ongoing non-compliance issues, as detailed by the Pakistan Stock Exchange (PSX). This suspension, effective from July 07, 2024, is set to last for an additional period of 60 days or until the company addresses the underlying causes.

The PSX has cited several violations by Haji Mohammad Ismail Mills Limited that have led to this decision. Key issues include the suspension of commercial production in the company's principal line of business, the nonpayment of dues owed to the Exchange, and an adverse opinion expressed in the company's latest audit report. Additionally, a winding-up petition against the company has been filed by the Securities and Exchange Commission of Pakistan (SECP) in court.

According to information available from the Pakistan Stock Exchange (PSX), the exchange is exercising its authority under Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations to enforce this suspension. The decision aims to ensure compliance with regulatory standards and protect investor interests until Haji Mohammad Ismail Mills Limited rectifies the noted issues.

This ongoing suspension serves as a significant reminder to all listed companies of the importance of adhering to PSX regulations and maintaining transparent and compliant operations.