Karachi: The Pakistan Stock Exchange (PSX) has confirmed that trading in the shares of M/s. Dewan Khalid Textile Mills Limited will remain suspended due to ongoing non-compliance with PSX Regulations. The decision, announced on August 29, 2024, follows the company’s failure to address several regulatory breaches, including suspension of business operations, failure to hold Annual General Meetings (AGMs), and non-submission of annual audited accounts.

According to information available from the Pakistan Stock Exchange (PSX), Dewan Khalid Textile Mills Limited has not rectified the causes for its trading suspension under clauses 5.11.1.(a)(b)(c)(g) and 5.11.2.(a)(c) of the PSX Regulations. The company has also been subject to an adverse opinion from its statutory auditor and is facing a winding-up petition filed by its creditors in the court. The PSX has therefore decided that the suspension will remain in force for a minimum period of 60 days starting from October 29, 2024.

The decision was made under the Exchange’s powers as outlined in Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.