Karachi: Dewan Mushtaq Textile Mills Limited (DMTM) is at risk of having its trading activities suspended due to ongoing non-compliance with specific Pakistan Stock Exchange (PSX) regulations. This situation arises from the company’s failure to hold its Annual General Meeting (AGM) and transmit its Annual Audited Financial Statements for two consecutive years, with the current compliance deadline set for October 28, 2025.
According to a previous PSX notice dated April 16, 2025, trading in DMTM shares was restored following the overdue AGM and the submission of financial statements for the fiscal year ending June 30, 2023. However, the company has yet to convene its AGM or submit audited financial statements for the year ending June 30, 2024. The regulatory body reiterated these requirements in Notice No. PSX/N-1047 issued on September 30, 2025.
According to information available from the Pakistan Stock Exchange (PSX), DMTM must comply by October 28, 2025, or face suspension of its trading activities. The regulations stipulate that if a listed company fails to hold its AGM or submit financial statements for two consecutive years, the PSX will suspend trading in the company’s shares and allow a further period not exceeding 90 days to rectify the non-compliance.
If DMTM successfully holds its overdue AGMs and submits the necessary financial statements within the stipulated timeframe, the primary non-compliance issues can be resolved. However, the company will continue to be listed on the ‘Non-Compliant Segment’ due to other regulatory breaches under PSX Regulations 5.11.1(a), (d), and (g).
The situation underscores the critical importance of regulatory adherence for listed companies on the PSX, which operates in the designated market category. As the deadline approaches, DMTM faces significant pressure to address these compliance issues to avoid trading suspension and further regulatory action.