Karachi: The Pakistan Stock Exchange (PSX) has announced an extended suspension of trading in shares of Silver Star Insurance Company Limited. The decision, effective from September 10, 2024, follows the company’s failure to address the non-compliance issues that initially led to the suspension, specifically its inability to hold Annual General Meetings and to submit annual audited accounts as mandated by PSX Regulations.

Silver Star Insurance Company Limited's trading suspension was initially disclosed in PSX Notice No. PSX/N-663 dated July 11, 2024, citing violations of clauses 5.11.1.(b)(c). According to information available from the Pakistan Stock Exchange (PSX), these infractions have not been rectified, prompting the extension. The latest extension will last for an additional 60 days or until the company remedies the causes of suspension.

The ongoing suspension is enforced under Sub-Section (7) of Section 19 of the Securities Act, 2015, coupled with Clause 5.11 of the PSX Regulations, underscoring the exchange’s regulatory authority over its listed entities.