Karachi: Isally Textile Mills Limited has issued a formal response to a Show Cause and Hearing Notice from the Pakistan Stock Exchange (PSX) regarding an unusual movement in its share price and trading volume observed between July 24, 2024, and August 12, 2024. The notice, referenced as PSX/Gen-I480 and dated July 29, 2025, prompted the company to address the matter comprehensively.
The company has acknowledged the recent fluctuations in its share price and volume but maintains that, to its knowledge, no undisclosed material information or development triggered this unusual activity. Moreover, Isally Textile Mills has not made any public announcements or engaged in corporate actions during the period in question that could account for the observed trading pattern.
Isally Textile Mills reaffirms its commitment to compliance with Regulation 5.6.1, emphasizing the importance of timely disclosure of material information. The company also asserts adherence to Regulation 5.6.3, having reviewed internal communications and board-level decisions to confirm no selective disclosure or leakage of price-sensitive information occurred.
According to information available from the Pakistan Stock Exchange (PSX), the company suggests that the volatility might be driven by speculative trading or market rumors, factors beyond its control. Nevertheless, Isally Textile Mills assures stakeholders that it is closely monitoring the situation and will disclose any material information promptly in accordance with PSX and Securities and Exchange Commission of Pakistan (SECP) regulations.
In terms of governance, the company highlights its robust internal controls and policies concerning insider trading, information security, and regulatory compliance. Its Code of Conduct and Corporate Disclosure Policy are subject to regular review and are communicated to relevant personnel.
In preparation for the scheduled hearing on Monday, August 4, 2025, at 3:30 PM, Isally Textile Mills has nominated Mr. Syed Abid Rua Zaidi as the authorized representative to appear on its behalf. Mr. Zaidi, holding the position of Company Secretary/Director, is well-versed in the case details and empowered to provide necessary clarifications.
The company reiterates its commitment to transparent and responsible cooperation with PSX and any other regulatory bodies to resolve the matter. It remains open to providing further clarification or documentation as needed and respectfully requests the closure of the Show Cause proceedings against it.
The textile industry remains attentive to developments as Isally Textile Mills navigates this regulatory scrutiny.