Karachi: The Pakistan Stock Exchange (PSX) has extended the suspension of trading in the shares of M/s. Fatima Enterprises Limited, pending resolution of regulatory non-compliances.

The decision to extend the suspension comes following PSX Notice No. PSX/N-466 dated May 17, 2024, which initially alerted shareholders and the market about the infractions. According to information available from the Pakistan Stock Exchange (PSX), the current extension will last for 60 more days starting from July 18, 2024, unless the company addresses the causes of the suspension earlier.

M/s. Fatima Enterprises Limited has failed to convene its Annual General Meetings, submit its annual audited accounts, and clear dues owed to the Exchange, all of which are required under Clause 5.11.1.(b)(c)(d) of PSX Regulations. These ongoing issues have led the Exchange to exercise its authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations, to halt trading in the company’s shares.

Stakeholders of M/s. Fatima Enterprises Limited are urged to take note of these developments for record purposes.