Karachi: Salman Noman Enterprises Limited (SANE) has responded to recent observations by the Pakistan Stock Exchange (PSX) of unusual movements in the price of its shares. This follows the guidelines set by Section 97 of the Securities Act, 2015, and PSX Regulation 5.6.3., which mandate listed companies to publicly disclose information regarding any unusual price or volume movements in their securities.

According to information available from the Pakistan Stock Exchange (PSX), an unusual movement in the price of SANE shares was detected during the preceding period. In compliance with the regulatory requirements, SANE was advised to promptly clarify its position regarding the significant fluctuations observed.

As part of its regulatory filing, SANE stated that it is not aware of any material or price-sensitive information that could have led to the recent volatility in its stock prices. The company emphasized its commitment to transparency and adherence to the PSX regulations, which require the immediate dissemination of any potentially price-sensitive information through PSX's Public Information Collection and Retrieval System (PUCARS).

This response aims to address the concerns raised by the observed trading activity and to assure shareholders and the market of the company’s compliance with disclosure obligations under the Securities Act and PSX regulations.