Islamabad: Trading in the shares of M/s. Zahur Cotton Mills Limited will remain suspended for an additional period of 60 days starting July 12, 2024. This decision follows the company's failure to resume commercial production or business operations and to include its Ordinary Shares in the Central Depository System (CDS).

The Pakistan Stock Exchange (PSX) had previously issued Notice No. PSX/N-442 on May 10, 2024, addressing the initial suspension. The continued suspension stems from non-compliance with specific clauses of the PSX Regulations, notably clause 5.11.1.(a)(e). These clauses mandate the active commercial production in the principal line of business and the inclusion of shares in the CDS as prerequisites for trading.

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the suspension was made under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.

The ongoing suspension serves as a regulatory measure intended to enforce compliance and safeguard investor interests until M/s. Zahur Cotton Mills Limited addresses the causes of non-compliance.