Karachi: An unusual movement in the price of Javedan Corporation Limited’s preference shares (JVDCPS) has been reported in compliance with Section 97 of the Securities Act, 2015, and clauses 5 and 6.3 of the Pakistan Stock Exchange (PSX) Regulations. This development, observed during the preceding period, has prompted the corporation to issue a notice addressing the situation.

According to information available from the Pakistan Stock Exchange (PSX), there has been an unusual activity in the trading of JVDCPS shares. This observation necessitates the company to disclose details of any relevant matters or developments that could have influenced this unexpected movement. Alternatively, the corporation is required to clarify if it is unaware of any such matters.

The PSX Regulations mandate that in the event of any material or price-sensitive information likely to affect the price or volume of shares, listed companies must promptly disseminate such information through the PSX for public awareness. Under regulation 5.6.1, this ensures transparency and timely information distribution to the stakeholders.

In response, Javedan Corporation Limited has been advised to provide sufficient information to clarify its position regarding the unusual movement in its share prices. The company must submit this information promptly through the PSX’s PUCARS system to inform the public, adhering to the requirements of regulation 5.6.3.