Karachi: Gammon Pakistan Limited (GPL) has reported that the recent unusual price movements in its shares are not linked to any disclosed information or known developments within the company. This response comes following a query from the Pakistan Stock Exchange (PSX) concerning the volatility observed in GPL's stock prices.

On September 24, 2024, the PSX noted a significant fluctuation in the price of GPL shares and sought clarification from the company regarding potential causes. In response, GPL stated that it had no knowledge of any specific matters or developments that could have influenced these movements. The company highlighted that it has been incurring losses for over three years, with all relevant financial data available on the PSX portal.

Furthermore, GPL clarified that neither its directors nor company executives have engaged in trading the company’s shares during this period. According to information available from the Pakistan Stock Exchange (PSX), GPL has categorically denied any involvement or awareness of factors that might explain the sudden changes in its stock prices.

The company has requested that this explanation be taken into account for a favorable resolution of the PSX's observations regarding the share price volatility. This ongoing situation leaves the reasons behind the unexpected share price movements unresolved, as GPL maintains its stance of being in the dark about the factors driving the market activity.