Pakistan Services Limited (PSX: PSEL), which owns and operates Pearl Continental Hotels, has clarified reports circulating on social media about an alleged split of the hotel business.

In a filing with the Pakistan Stock Exchange (PSX) on Monday, the company said it had no knowledge of the information contained in the circulating story and had not received any communication from any shareholder regarding the matter.

PSEL said it was therefore not in a position to comment further on the reported split.

The company, however, pointed out that certain cases involving its shareholding are currently pending before the Islamabad High Court.

PSEL said it remains committed to transparency and will inform the PSX, shareholders, regulators and the public of any development that requires disclosure under applicable laws and regulations.