Trading of Haydari Construction Shares Remains Suspended on Pakistan Stock Exchange

Stock Exchange Announcements

Karachi: The Pakistan Stock Exchange (PSX) has announced a continued suspension of trading in shares of M/s. Haydari Construction Company Limited, effective from July 11, 2024, for an additional period of 60 days. This decision follows the company's ongoing non-compliance with several critical regulatory requirements.

According to information available from the Pakistan Stock Exchange (PSX), Haydari Construction has failed to convene its Annual General Meetings, submit annual audited accounts, pay dues to the Exchange, and is facing a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) in court. These violations pertain to clauses 5.11.1.(b)(c)(d) and 5.11.2.(b) of the PSX Regulations.

The suspension, initially noted in PSX Notice No.PSX/N-438 dated May 10, 2024, will persist until the company addresses the issues leading to its non-compliance. The PSX has exercised its authority under Sub-Section (7) of Section 19 of the Securities Act, 2015 and clause 5.11 of the PSX Regulations to enforce this suspension.