Karachi: Dewan Mushtaq Textile Mills Limited (DMTM) is on the brink of having its trading suspended on the Pakistan Stock Exchange (PSX) due to a prolonged period of non-compliance with key regulatory requirements. The company has now missed the deadline to convene its Annual General Meeting (AGM) and submit Annual Audited Financial Statements for two consecutive years, placing it in violation of PSX Regulations 5.11.1.(b) and (c).
The compliance deadline, set for October 28, 2025, is fast approaching. Failure to meet this deadline will result in the suspension of DMTM’s shares from trading, as stipulated by PSX rules. According to information available from the Pakistan Stock Exchange (PSX), if DMTM does not rectify these non-compliances by the deadline, the exchange will enforce a trading suspension and offer a further 90-day period to resolve the issues.
The situation stems from DMTM’s inability to hold its AGMs and transmit its Annual Audited Financial Statements since the financial year ending June 30, 2024. This non-compliance has led to the company’s continued presence in the ‘Non-Compliant Segment’ of the PSX, even if it manages to address the current regulatory breaches. The company will remain listed under non-compliances of other PSX regulations, specifically 5.11.1(a), (d), and (g).
The PSX has been issuing notices to DMTM, highlighting these lapses and setting definitive deadlines for compliance. The latest notices, PSX/N-1047 dated September 30, 2025, and PSX/N-1104 dated October 14, 2025, reiterated the urgency of the situation. The market is closely watching the company’s next moves, as the looming suspension could impact the designated market category in which DMTM operates, and potentially influence investor confidence.