PSX Suspends Trading in Shares of 8 Listed Companies

Pakistan Stock Exchange has suspended trading in the shares of eight companies for breaching regulations. The suspended companies have failed to address multiple compliance issues. Issues comprise non-holding of Annual General Meetings (AGMs), non-submission of annual audited accounts, failure to pay PSX dues, and non-induction of ordinary shares into the Central Depository System (CDS). Some companies also face legal proceedings, including winding-up petitions filed by the Securities and Exchange Commission of Pakistan (SECP). The companies under suspension are: The PSX took the decision under Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of its regulations. The suspension will remain in effect until the companies rectify the identified defaults or for a further period of 60 days, whichever comes first.