Karachi: In a recent update from the Pakistan Stock Exchange (PSX), the trading of shares for M/s. Haji Mohammad Ismail Mills Limited remains suspended. This decision, effective November 04, 2024, extends the suspension for an additional 60 days or until the company addresses the reasons for this action.

According to information available from the Pakistan Stock Exchange (PSX), the initial suspension was communicated through PSX Notice No.PSX/N-851 on September 04, 2024, due to multiple non-compliances with the PSX Regulations. Specifically, the company failed to resume commercial production in its principal line of business, did not meet its financial obligations to the Exchange, received an adverse opinion in its audit report, and faced a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) in court.

The Exchange exercised its authority under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations to continue the suspension. The situation demands rectification of these issues by Haji Mohammad Ismail Mills Limited as a condition for lifting the trading halt.

Investors and stakeholders have been advised to take note of this extended suspension period and the ongoing regulatory concerns surrounding the company.