Karachi: Supernet Technologies Limited (STL) has been advised by the Pakistan Stock Exchange (PSX) to provide clarification regarding the recent unusual movement in the price of its shares. This advisory comes in accordance with Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations, which mandate listed companies to disclose any relevant developments or state their unawareness of such matters to the public.

The PSX observed an unusual fluctuation in the price of STL shares during the preceding period. Under the regulations, STL is required to disclose any material or price-sensitive information that could affect the price or volume of its shares. This information must be promptly disseminated through the PSX to ensure public awareness.

According to information available from the Pakistan Stock Exchange (PSX), STL must provide sufficient information to clarify any factors that may have contributed to the unusual movement in its share price. The company is expected to use the PUCARS system for this purpose, in compliance with PSX Regulation 5.6.3.

The designated market category for STL falls under the technology sector. STL's response and the subsequent dissemination of information through PSX are crucial for maintaining transparency and ensuring that investors and stakeholders are adequately informed about the factors influencing share price movements.