Karachi: The Pakistan Stock Exchange (PSX) has announced the continued suspension of trading in shares for six companies, as detailed in a follow-up to PSX Notice No.PSX/N-740 issued on August 01, 2024. The suspension, effective from October 01, 2024, will extend for an additional 60 days or until the companies rectify the causes of suspension.

The affected companies—Abson Industries Ltd., Prudential Stocks Fund Ltd., English Leasing Ltd., Sadoon Textile Industries Ltd., Hakkim Textile Mills Ltd., and Suraj Ghee Industries Ltd.—have failed to comply with multiple regulatory requirements. These include the failure to hold Annual General Meetings, non-submission of annual audited accounts, non-payment of dues to the Exchange, and issues related to the non-induction of shares into the Central Depository System (CDS). Additionally, some of these firms are facing court actions, including winding-up petitions filed by creditors and the Securities and Exchange Commission of Pakistan (SECP).

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the trading suspension was made under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations. This measure seeks to ensure compliance with market regulations and safeguard investor interests.

Market participants are advised to take note of these extended suspensions and the ongoing regulatory proceedings against the listed companies.