Karachi: Trading in the shares of M/s. Schon Textiles Limited will remain suspended as the company has yet to address the reasons for suspension under the Pakistan Stock Exchange (PSX) regulations. The extension of the suspension, announced on March 26, 2025, will last for another 60 days unless the company rectifies the cited issues.

The suspension was initially detailed in PSX Notice No. PSX/N-110 on January 24, 2025. The company's non-compliance with PSX Regulations 5.11.1 and 5.11.2 has led to this continued action. Among the failures noted are the company's inability to hold Annual General Meetings, submit annual audited accounts, and pay dues to the exchange. Additionally, Schon Textiles has not inducted its ordinary shares into the Central Depository System (CDS). Compounding these issues, an Official Liquidator was appointed by the court following a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) against the company.

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the suspension is in line with the powers granted to the exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, as well as PSX Regulation 5.11. The continuation of the suspension underscores the importance of compliance with regulatory requirements for companies listed on the exchange.

Schon Textiles remains suspended in the designated market category until it resolves these compliance issues or until the expiration of the 60-day period.