Karachi, The Pakistan Stock Exchange (PSE) has announced the continuation of the suspension of trading in the shares of M/s. Safa Textiles Limited, citing the company's failure to rectify non-compliances with specific clauses of the PSX Regulations. This decision follows the initial notice PSX/N-1225, dated December 5, 2023, regarding the same matter.

M/s. Safa Textiles Limited has not addressed the causes of suspension highlighted in the previous notice, including the failure to hold Annual General Meetings, non-submission of Annual Audited Financial Statements, and non-payment of dues to the Exchange. Consequently, the suspension will extend for an additional period of 60 days, starting from February 5, 2024.

This action is taken under the authority of Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations, aiming to enforce compliance and protect the interests of investors and stakeholders in the financial marketplace.