The Pakistan Stock Exchange (PSX) has suspended trading in the shares of seven companies due to multiple regulatory breaches. The suspension will remain in effect until the issues are rectified or for a period of 60 days starting from August 8, 2024.

The PSX cited various defaults on its regulations as the reasons for the suspensions. The affected companies and their respective breaches are as follows:

Regal Ceramics Limited: Failed to hold Annual General Meetings, did not submit annual audited accounts, non-payment of dues to the Exchange, non-induction of ordinary shares into the Central Depository System (CDS), and a winding-up petition filed by the SECP with the appointment of an official liquidator.

Azmat Textile Mills Limited: Failed to hold Annual General Meetings, did not submit annual audited accounts, non-payment of dues to the Exchange, non-induction of ordinary shares into CDS, and the appointment of an official liquidator.

Kaiser Arts & Krafts Limited: Failed to hold Annual General Meetings, did not submit annual audited accounts, non-payment of dues to the Exchange, non-induction of ordinary shares into CDS, and the appointment of an official liquidator.

Pakistan Industrial & Commercial Leasing Ltd: Failed to hold Annual General Meetings, did not submit annual audited accounts, non-payment of dues to the Exchange, and non-induction of ordinary shares into CDS.

Dadabhoy Sack Limited: Suspension of commercial production in its principal line of business and non-induction of ordinary shares into CDS.

Nina Industries Limited: Failed to hold Annual General Meetings, did not submit annual audited accounts, non-payment of dues to the Exchange, non-induction of ordinary shares into CDS, and an order by the SECP for the filing of a winding-up petition.

Investec Mutual Fund Limited: Failed to hold Annual General Meetings, did not submit annual audited accounts, non-payment of dues to the Exchange, non-induction of ordinary shares into CDS, and a winding-up petition filed by the SECP.

The PSX has emphasized that trading in these companies’ shares will only resume once the causes of suspension are addressed. The exchange is committed to maintaining regulatory compliance and ensuring the integrity of the market.