Karachi: The trading of shares for Dewan Mushtaq Textile Mills Limited (DMTM) is set to resume on April 22, 2025, following the resolution of issues that led to a suspension, including a failure to hold Annual General Meetings (AGMs) and the non-transmission of annual audited financial statements for two consecutive years ending June 30, 2024. This development was previously outlined in a notice dated November 15, 2024, by the Pakistan Stock Exchange (PSX).

DMTM has since complied by holding the overdue AGM and has successfully transmitted the required financial statements for the year ending June 30, 2023, through the Pakistan Unified Corporate Action Reporting System (PUCARS). According to information available from the Pakistan Stock Exchange (PSX), this compliance has paved the way for the reinstatement of trading in DMTM shares.

Despite this progress, DMTM remains in violation of Clause 5.11.1.(d) of the PSX Regulations. Consequently, under Clause 5.11.3.(e), a compulsory buy-back directive has been issued. The major shareholders and sponsors of DMTM have been instructed to offer shareholders the option to sell their shares back at a price determined by the Exchange. This process is to be completed within 90 days, by July 21, 2025, in accordance with Clause 5.14. of the PSX Regulations.

This action is part of the PSX's designated market category regulations to ensure compliance and protect shareholder interests.