Karachi: The trading of shares for seven companies listed on the Pakistan Stock Exchange (PSX) will continue to be suspended due to their non-compliance with several key regulatory requirements. This decision is detailed in PSX Notice No. PSX/N-554 issued on June 07, 2024, and reiterates the ongoing issues that have led to the suspension initially announced in a previous notice.

According to information available from the Pakistan Stock Exchange (PSX), the companies in question—Regal Ceramics Limited, Azmat Textile Mills Limited, Kaiser Arts and Krafts Limited, Pakistan Industrial and Commercial Leasing Ltd., Dadabhoy Sack Limited, Nina Industries Limited, and Investec Mutual Fund Limited—have failed to resolve the causes of their respective suspensions. These causes include failures to hold Annual General Meetings, submit annual audited accounts, pay dues to the exchange, and induct their ordinary shares into the Central Depository System (CDS). Additionally, several of these companies have had winding-up petitions filed against them by the Securities and Exchange Commission of Pakistan (SECP).

The Pakistan Stock Exchange has indicated that the suspension of trading for these companies will remain in effect until the violations are rectified or another period of 60 days from August 08, 2024, whichever comes first. This action is taken under the powers vested in the exchange by Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations. This step underscores the exchange's commitment to enforcing compliance and ensuring the integrity of the trading environment.

It is essential for shareholders and potential investors to note the ongoing status of these companies, as non-compliance with PSX regulations can significantly impact their investment decisions. The PSX aims to maintain a transparent and reliable market by strictly enforcing regulatory compliance to protect investor interests.