Karachi: Ali Asghar Textile Mills Limited ("AATM") has cleared its outstanding penalties, allowing its reclassification to the Normal Counter of the Pakistan Stock Exchange (PSX), effective August 01, 2024. The shift marks a resolution to the previously reported non-compliance issues related to financial obligations.
In a previous notice dated May 09, 2024, the PSX had cited AATM for not adhering to Regulation 5.11.1.(d), concerning the late payment of the Annual Listing Fee and associated surcharges. Subsequent notices on July 10 and July 22 set compliance deadlines which have now been met by the textile company. According to information available from the Pakistan Stock Exchange (PSX), this resolution of dues was necessary for the transition back to the Normal Counter.
AATM's settlement of the outstanding fees rectifies the non-compliance, ensuring the protection of minority shareholder interests and obliging the company to maintain stringent adherence to all applicable rules and regulations moving forward.