karachi: The Pakistan Stock Exchange (PSX) has issued a Risk Warning Alert (RWA) against five companies following their continued non-compliance with PSX regulations, specifically their failure to pay the Annual Listing Fee (ALF) for two consecutive years. This action is an extension of the PSX Notice No. PSX/N-1028 dated October 24, 2024, which initially highlighted the non-compliance issues.

The companies affected by this alert include Amtex Limited (AMTEX), Dadabhoy Cement Industries Limited (DBCI), Ruby Textile Mills Limited (RUBY), Crescent Jute Products Limited (CJPL), and Dewan Textile Mills Limited (DWTM). These companies have failed to pay the complete outstanding dues to the PSX, thus violating PSX Regulation 5.11.1.(d).

According to information available from the Pakistan Stock Exchange (PSX), the Risk Warning Alert is issued in accordance with clause 5.11.3.(d) of the PSX Regulations. This alert is applicable to companies placed in the Non-Compliant Segment or the Winding-Up Segment due to continuous violations specified in Clause 5.11.1 and 5.11.2.

The PSX has mandated that the specified companies have a period of 90 days, until April 21, 2025, to rectify the non-compliance by settling their outstanding dues. Failure to do so will result in the initiation of further actions under PSX regulation 5.11.3.(e), which may include the issuance of compulsory buy-back directions to the sponsors or majority shareholders of these companies.

Even if the companies manage to address the non-compliance of PSX Regulation 5.11.1.(d) within the stipulated timeframe, they will remain listed on the Non-Compliant Segment until all other non-compliance issues are resolved. The PSX's decisive action underscores the importance of adhering to regulatory obligations to maintain market integrity and protect investor interests.