Karachi: Asim Textile Mills Limited has been placed in the Non-Compliant Segment by the Pakistan Stock Exchange (PSX) following a failure to pay an imposed penalty. The placement was confirmed through a notice issued by PSX, identified as Notice No. PSX/N-410, on April 22, 2025. The placement took effect on April 23, 2025, under Clause 5.11.3.(a) of the PSX Regulations.

According to the PSX, the non-compliance falls under Clauses 5.11.1.(d) of its regulations, specifically citing non-payment of a penalty ordered by the exchange. Asim Textile Mills Limited has been given a period of 90 days, until July 21, 2025, to rectify this non-compliance.

The potential repercussions of failing to address the default within the specified timeframe include the issuance of a Risk Warning Alert. Such measures are instituted to safeguard the interests of shareholders and the broader market.

The directors of Asim Textile Mills Limited and their shareholdings are as follows: Mr. Zahid Anwar holds 4,510,075 shares, Mr. Imran Zahid holds 2,140,175 shares, Ms. Noorulain Zahid holds 1,257,938 shares, Mr. Zeeshan Zahid holds 2,038,675 shares, Mr. Ali Raza Zafar holds 500 shares, Mr. Muhammad Zulqarnan holds 500 shares, and Mr. Anwar UI Hag holds 500 shares.

Substantial shareholders in the company include Mr. Imran Zahid with 14.10% of the shareholding, Mr. Zahid Anwar with 29.72%, and Mr. Zeeshan Zahid with 13.43%. According to information available from the Pakistan Stock Exchange (PSX), these individuals represent the significant ownership structure of the company.

The impact of this development on the market category remains under review, with stakeholders closely monitoring the situation.