Karachi, The Pakistan Stock Exchange (PSX) has announced an extended suspension of trading in the shares of Trust Investment Bank Limited. This decision, communicated via PSX Notice No. PSX/N-1021 dated October 06, 2023, is a result of the bank's continued non-compliance with specific clauses of the PSX Regulations.

Trust Investment Bank Limited has failed to comply with Clauses 5.11.1.(c), (d), (e), (j), and (l) of the PSX Regulations. These non-compliances include the failure to hold Annual General Meetings, non-submission of Annual Audited Financial Statements, non-payment of dues to the Exchange, cancellation of the IFS license by the Securities and Exchange Commission of Pakistan (SECP), and the filing of a winding-up petition against the company by the SECP.

In light of these unresolved issues, PSX has extended the suspension of trading in the bank's shares. The suspension will remain in effect until the bank addresses the cited reasons for suspension or for another period of 60 days, starting from December 07, 2023. This decision is in accordance with the powers granted to the Exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations.

This ongoing suspension highlights the PSX's commitment to enforcing regulatory standards and protecting the interests of the investing public. Trust Investment Bank Limited is urged to take immediate corrective actions to meet the regulatory requirements and facilitate the resumption of trading in its shares.