Karachi: Dewan Farooque Motors Limited and Oilboy Energy Limited have been placed in the Non-Compliant Segment of the Pakistan Stock Exchange (PSX) due to their failure to conduct Annual General Meetings (AGM) and present their Annual Audited Financial Statements for the fiscal year ending June 30, 2026. This action is in accordance with PSX Regulations 5.11.1. (b) and (c).

The companies' non-compliance with these regulations mandates their placement in the Non-Compliant Segment effective November 11, 2026. According to the regulations, if a company fails to hold its AGM or submit its financial statements even after six months of being placed in this segment, a Risk Warning Alert will be issued. Should the non-compliance persist for two consecutive years, the PSX will suspend trading in the company's shares, allowing a further period of up to 90 days for rectification.

According to information available from the Pakistan Stock Exchange (PSX), Dewan Farooque Motors Limited, symbolized as DFML, and Oilboy Energy Limited, symbolized as OBOY, have not adhered to the critical requirements of holding AGMs and presenting financial statements. These events are pivotal for maintaining transparency and accountability in the corporate sector.

Market participants and stakeholders have been informed of these developments, with an emphasis on the May 11, 2027 deadline for the companies to comply. Failure to meet this deadline will prompt the issuance of a Risk Warning Alert. The situation underscores the importance of regulatory compliance for continued trading privileges on the exchange.

The designated market category for these companies remains under scrutiny as they work towards resolving these compliance issues. As the deadline approaches, both companies face significant pressures to align with the regulatory expectations set forth by the PSX to avoid further actions that could impact their trading status.