Karachi: Trading in the shares of M/s. Salman Noman Enterprises Limited will remain suspended until the company addresses the issues leading to its suspension or for an additional period of 60 days starting December 06, 2024. This decision follows non-compliance with several clauses of the Pakistan Stock Exchange (PSX) Regulations, as previously noted in PSX Notice No.PSX/N-980 dated October 04, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the suspension is due to the company's failure to resolve issues including its suspension of commercial production in its principal line of business for one year, non-payment of dues to the PSX, a disclaimer of opinion from its statutory auditor in the audit report, and a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) against the company in court.

The PSX exercised its authority under Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations to extend the suspension. The decision will remain in effect until the company rectifies the causes of suspension or until the end of the 60-day period. The notice is intended to serve as a record of the ongoing suspension.