Karachi, The Pakistan Stock Exchange (PSX) has reiterated a final notice to two companies, Huffaz Seamless Pipe Industries Limited and Trust Investment Bank Limited, regarding their ongoing non-compliance with PSX Regulation 5.11.1.(e). This regulation requires the payment of the Annual Listing Fee (ALF) and the SECP supervisory fee. Both companies have failed to meet their financial obligations for the past two years, as mandated under SECP notification No. SRO 598(1)/2016 dated June 29, 2016.

Huffaz Seamless Pipe Industries Limited and Trust Investment Bank Limited have until April 29, 2024, to address these non-compliances. Failure to rectify these issues within the stipulated time will lead to further actions under PSX Regulation 5.11.2., which could include compulsory buy-back directions to sponsors or majority shareholders.

Should the companies manage to resolve these issues by the deadline, they will remain listed in the PSX Defaulters' Segment under the noted non-compliances, and they will be subject to subsequent regulatory actions as required by the regulations.