Karachi: Trading in the shares of Ansari Sugar Mills Limited will remain suspended for an additional 60 days starting September 4, 2024, as the company has yet to address non-compliance issues that initially halted its stock trading activities.
This suspension follows the Pakistan Stock Exchange (PSX) Notice No.PSX/N-625 issued on July 5, 2024, citing the company's failure to convene its Annual General Meetings and to submit its Annual audited accounts as required. These actions are breaches of clauses 5.11.1.(b)(c) of the PSX Regulations, which are critical for maintaining transparency and corporate governance standards among publicly traded companies.
According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the suspension was made under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, alongside clause 5.11 of the PSX Regulations. The extended suspension period is intended to provide Ansari Sugar Mills Limited sufficient time to rectify the cited deficiencies.
Stakeholders and investors in Ansari Sugar Mills are advised to take note of this continuation of the suspension for record purposes and to adjust their investment activities accordingly.