Karachi: The Pakistan Stock Exchange (PSX) has announced the continuation of the trading suspension for Zahur Cotton Mills Limited, citing ongoing non-compliance issues. The extension, effective from January 08, 2025, follows the company’s failure to address the causes that initially led to the trading suspension as outlined in PSX Notice No. PSX/N-1074 dated November 08, 2024.

The primary reasons for the suspension include the company’s halted commercial production and business operations in its principal line of business, alongside the non-induction of its Ordinary Shares into the Central Depository System (CDS). These issues are in direct violation of clauses 5.11.1.(a)(e) of the PSX Regulations, which necessitate active business operations and proper share induction protocols.

According to information available from the Pakistan Stock Exchange (PSX), the decision to maintain the suspension was made under the powers granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. The suspension will remain in effect until the company rectifies the outlined issues or for an additional period of 60 days from the effective date.

Zahur Cotton Mills Limited, categorized under the textile market segment, must take immediate corrective actions to resume trading activities and comply with regulatory standards. The extended suspension period provides a critical timeframe for the company to address its operational and compliance deficiencies to regain its standing on the stock exchange.