Karachi: Trading in the shares of M/s. Zeal Pak Cement Factory Limited will continue to be suspended, pending the resolution of regulatory compliance issues. This decision, as outlined in a notice from the Pakistan Stock Exchange (PSX), extends the suspension for an additional 60 days starting from July 29, 2024.

The suspension stems from the company's failure to fulfill several critical obligations under the PSX Regulations 5.11(b)(c)(d). Specifically, Zeal Pak has not held its Annual General Meetings, failed to submit its annual audited accounts, and has outstanding dues with the Exchange. These issues were first highlighted in PSX Notice No. PSX/N-503, dated May 29, 2024, which initially announced the suspension of trading.

According to information available from the Pakistan Stock Exchange (PSX), the decision to prolong the suspension was made under Sub-Section (7) of Section 19 of the Securities Act, 2015. This regulatory framework grants the Exchange significant powers to enforce compliance and ensure the proper functioning of the securities market.

As the suspension continues, shareholders and potential investors are advised to take note of these developments. The company must address the specified issues within the newly extended period to resume trading activities. The ongoing situation highlights the importance of adherence to financial and regulatory standards to maintain trading privileges on the Exchange.