Karachi: Further to PSX Notice No. PSX/N-433 dated May 09, 2024, Ali Asghar Textile Mills Limited (AATM) has been notified of non-compliance with Pakistan Stock Exchange (PSX) Regulation 5.11.1.(d), which involves the failure to pay a penalty imposed by the Exchange within the specified period. The company has been given a deadline until August 06, 2024, to rectify this non-compliance.

According to information available from the Pakistan Stock Exchange (PSX), if AATM fails to address the issue by the deadline, further actions may be taken under the subsequent provisions of PSX Regulation 5.11.3.(d). The failure to meet compliance requirements stems from the company's non-payment of financial penalties due within a designated timeframe, as outlined in the initial notice issued in May.

Should AATM manage to rectify the situation and meet the regulatory requirements by August 06, 2024, it will be shifted back to the Normal Counter of the Exchange. This potential move back to normal trading status hinges on the company's ability to fulfill its obligations within the stipulated timeframe.

The PSX has issued a notice to all concerned parties to be aware of the ongoing compliance situation with AATM and the possible implications for its trading status depending on the company’s actions in the coming weeks.