Karachi: Gammon Pakistan Limited, a prominent player in the construction sector, has been placed in the Non-Compliant Segment of the Pakistan Stock Exchange (PSX) as of May 14, 2025. This development was officially communicated by PSX through Notice No. PSX/N-496, dated May 13, 2025. The decision follows the company's inability to meet specific regulatory requirements as stipulated under Clause 5.11.3.(a) of the PSX Regulations.
The PSX notice outlines that Gammon Pakistan Limited, identified by its ticker symbol "GAMON," was placed in the Non-Compliant Segment due to unspecified reasons, which necessitate rectification. The timeline for addressing these compliance issues has not been disclosed. If the company fails to resolve the deficiencies by the given deadline, it risks facing suspension of its business operations or commercial production in its principal line of business, as per Clause 5.11.1.(a) of the PSX Regulations.
According to information available from the Pakistan Stock Exchange (PSX), the directors of Gammon Pakistan Limited include Lt. Gen Ali Kuli Khan Khattak, who holds 81,438 shares, Mrs. Ayesha Alamzeb Durrani and Mr. Kamal Abdullah Malik, each with 100 shares. Other board members, such as Mr. Khalid Kuli Khan Khattak, Mr. Muhamad Kuli Khan Khattak, and Mr. Sikandar Kuli Khan Khattak, do not hold any shares in the company.
Additionally, Gammon Pakistan Limited maintains associations with several companies, notably Ghandhara Automobiles Limited, Ghandhara Industries Limited, Janana De Malucho Textile Mills Limited, Rehman Cotton Mills Limited, Bannu Woollen Mills Limited, and Ghandhara Tyte & Rubber Company Limited. These associations are likely to be impacted by the company's current non-compliant status, which could have wider implications within the designated market category.
Stakeholders and the general public are advised to stay informed of any further announcements regarding Gammon Pakistan Limited’s compliance status and the potential impact on its operations. The PSX is expected to provide updates as the situation evolves.