Karachi, The Pakistan Stock Exchange (PSE) has announced the continued suspension of trading in the shares of M/s. Dewan Automotive Engineering Limited, following the failure of the company to address the causes of suspension highlighted in PSX Notice No. PSX/N-858 dated August 21, 2023.

Dewan Automotive Engineering Limited has not resumed commercial production or business operations in its principal line of business and has failed to pay the dues of the Exchange. Additionally, the company's Central Depository Company (CDC) eligibility has been suspended, and the audit report has shown an adverse opinion. As a result, the trading of the company's shares will remain suspended for an additional period of 60 days, effective from October 22, 2023, or until the causes of suspension have been rectified. This decision is in line with the powers vested in the Exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015 and clause 5.11. of the PSX Regulations.