Karachi: The Pakistan Stock Exchange (PSX) has formally requested Image Pakistan Limited (IMAGE) to clarify the substantial volume movements observed in its shares. The inquiry, dated August 21, 2024, references Section 97 of the Securities Act, 2015, and PSX Regulation 5.6.3., and has been issued amidst observed trading anomalies.

According to information available from the Pakistan Stock Exchange (PSX), the regulatory notice aims to ensure transparency and maintain market integrity by requiring a swift response from IMAGE concerning the unusual trading activity. The movement in share volumes of IMAGE's stock, identified as having deviated significantly from normal patterns, triggered the PSX's regulatory oversight.

Under the stipulations of Section 97 and Regulation 5.6.3., listed companies like IMAGE are compelled to either disclose any material information that may explain the trading anomalies or confirm the absence of any such developments. This response must be promptly shared through the PSX's Public Disclosure and Reporting System (PDCARS), ensuring that all market participants remain well-informed.

The requirement underscores the importance of timely and accurate disclosures to prevent speculative trading based on undisclosed information. It also highlights the PSX's commitment to upholding a fair trading environment by monitoring significant fluctuations in stock volumes and prices, which could affect investor confidence.

IMAGE is expected to comply by furnishing all relevant information or stating a lack of significant developments that could have influenced the observed volume changes. This will help clarify the situation for investors and stabilize the market dynamics surrounding IMAGE's shares.