Karachi: The Pakistan Stock Exchange (PSX) has issued a compliance deadline for Al Shaheer Corporation Limited and Nazir Cotton Mills Limited, highlighting their non-compliance with specific regulations. The companies have until March 12, 2025, to address the outstanding issues, particularly under PSX Regulation 5.11.1.(d).

According to a notice from PSX, the non-compliance stems from the companies' failure to pay penalties imposed by the exchange. Al Shaheer Corporation Limited, trading under the symbol ASC, and Nazir Cotton Mills Limited, denoted as NCML, are the firms involved. Al Shaheer is currently non-compliant with regulations 5.11.1.(b)(c)(d), while Nazir Cotton Mills has not adhered to regulations 5.11.1.(a)(d)(g).

The notice, referenced as PSX/N-1204 and dated December 13, 2024, initially informed stakeholders of the penalties. A subsequent notice, PSX/N-172, released on February 10, 2025, reiterated the compliance deadline. The designated market category for these actions remains within the Non-Compliant Segment.

According to information available from the Pakistan Stock Exchange (PSX), if the companies fail to rectify the non-compliance by the specified date, further actions will be taken by PSX under Clause 5.11.3.(d). These measures may include the issuance of a Risk Warning Alert against the companies.

Even if Al Shaheer Corporation Limited and Nazir Cotton Mills Limited address the specific non-compliance related to regulation 5.11.1.(d), they will continue to be listed in the Non-Compliant Segment until they rectify all noted regulatory breaches.