Karachi: The Pakistan Stock Exchange (PSX) has announced an extension of the trading suspension for several companies due to continued regulatory non-compliance. This decision, effective from September 27, 2024, pertains to companies such as Annoor Textile Mills Ltd, Dadabhoy Construction Technology Ltd, Hamid Textile Mills Ltd, Globe Textile Mills Ltd, Hajra Textile Mills Ltd, and Taj Textile Mills Limited.

According to information available from the Pakistan Stock Exchange (PSX), the reasons for the extended suspensions include failure to hold Annual General Meetings, non-submission of annual audited accounts, non-payment of dues to the Exchange, and non-induction of shares into the Central Depository System (CDS). Additionally, some companies face winding-up petitions filed by the Securities and Exchange Commission of Pakistan (SECP).

The continuation of the trading suspension is based on the powers vested in the PSX under Sub-Section (7) of Section 19 of the Securities Act, 2015, combined with relevant PSX Regulations. The PSX has mandated that the trading in the shares of these companies will remain suspended until the causes of suspension are rectified or for another period of 60 days.

This action reflects the PSX’s commitment to maintaining stringent regulatory standards and ensuring the integrity of trading activities on its platform.