Karachi: Trading in the shares of M/s. Shaffi Chemical Industries Limited will continue to be suspended for an additional 60 days effective from July 15, 2024, according to the Pakistan Stock Exchange. This decision follows the company’s failure to address the non-compliance issues that initially led to the suspension.

The Pakistan Stock Exchange issued Notice No.PSX/N-458 on May 15, 2024, which initially suspended trading due to multiple violations of the PSX Regulations. These included the cessation of commercial production and business operations in its principal line of business, non-payment of dues to the Exchange, and a winding-up petition filed against the company by the Securities and Exchange Commission of Pakistan (SECP).

According to information available from the Pakistan Stock Exchange (PSX), the extension of the trading suspension is under the authority of Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. This measure will remain in effect until the company rectifies the causes of suspension or until the new deadline of September 13, 2024.

This decision underscores the Exchange’s commitment to enforcing compliance with its regulations to maintain market integrity and protect investor interests.