Karachi: The Pakistan Stock Exchange (PSX) has announced that trading in the shares of seven companies will remain suspended due to their failure to address various regulatory defaults. This decision, which was initially communicated in PSX Notice No. PSX/N-978 dated October 4, 2024, extends the suspension for an additional 60 days starting December 6, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the affected companies include Regal Ceramics Limited, Azmat Textile Mills Limited, Kaiser Arts & Krafts Limited, Pakistan Industrial & Commercial Leasing Ltd., Dadabhoy Sack Limited, Nina Industries Limited, and Investec Mutual Fund Limited. These companies have not held their Annual General Meetings, failed to submit annual audited accounts, and have not inducted ordinary shares into the Central Depository System (CDS). Furthermore, several of these companies face additional issues such as non-payment of dues to the Exchange and are subject to winding-up petitions filed by the Securities and Exchange Commission of Pakistan (SECP).

Regal Ceramics Limited is notably under a winding-up petition with the appointment of an official liquidator. Similarly, Azmat Textile Mills Limited and Kaiser Arts & Krafts Limited are facing similar challenges, along with the appointment of an official liquidator. Meanwhile, Dadabhoy Sack Limited has suspended commercial production in its principal line of business, further contributing to its trading suspension.

The PSX has determined that trading in these companies' shares will only resume once the causes of suspension are rectified. This decision is made under the authority vested in the Exchange by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. Stakeholders are advised to note this decision for record purposes.