Karachi: Gulshan Spinning Mills Limited ("GSPM") has been advised to provide clarifications regarding the unusual movements observed in the price of its shares. This notice follows the guidelines outlined in Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations, which mandate that listed companies must promptly disclose any developments or information relevant to significant price or volume changes in their securities.
According to information available from the Pakistan Stock Exchange (PSX), the PSX has noted a significant fluctuation in the share price of GSPM during the preceding period. In compliance with the regulatory framework, GSPM is required to either disclose any material information that could have influenced these movements or confirm the absence of any such developments. This step ensures transparency and maintains investor confidence by providing the market with necessary information to make informed decisions.
The regulations, particularly PSX Regulation 5.6.1, emphasize the importance of timely communication of any price-sensitive information through the exchange. This process aids in the fair dissemination of information, preventing speculative trading and maintaining market stability.
GSPM's response to this inquiry will be critical in clarifying the reasons behind the observed price volatility. The company is expected to submit this information through the prescribed channels promptly, ensuring that all market participants are equally informed.