Karachi, The Pakistan Stock Exchange (PSE) has announced the continuation of the trading suspension in the shares of M/s. Fateh Textile Mills Limited. The suspension, initially imposed due to multiple regulatory non-compliances, will extend for another 60 days, starting May 08, 2024.

M/s. Fateh Textile Mills has failed to address the issues that led to the initial suspension, including not holding Annual General Meetings, failing to submit Annual Audited Financial Statements, non-payment of dues to the Exchange, and facing a winding-up petition filed by creditors. The decision to extend the suspension was made under the powers granted by Sub-Section (7) of Section 19 of the Securities Act, 2015 and Clause 5.11 of the PSX Regulations.