Karachi September 27 2021: The management of Nimir Resins Limited (NRSL) had cleared that we are not aware of any such matter and/or development that may have resulted in the unusual movement in market price and volume in the shares of the Company, during the last three months which has not been previously disclosed to the market through PUCARS.
Please be informed that the face value of the shares of the NRSL had been increased from Rs. 5/-per share to Rs. 10/- per share by reducing the number of shares to half on August 17, 2021. This had resulted the market price to increase from Rs. 18.72 to Rs. 36.12 during August 2021, which was all market driven.
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Furthermore, we would like to assure you that, the Company is fully cognizant of all applicable legal and regulatory procedures and requirements and will continue to ensure compliance with the same.
Earlier, PSX asked NRSL to respond promptly by disclosing the following to the public if there are unusual movements in the price or volume of its traded securities is observed:
a) Details of any matter or development of which it is aware that is or may be relevant to the unusual movements, or
b) A statement of the fact that it is not aware of any such matter or development.
It may be noted that PSX has observed that the price in the shares of NRSL has increased Substantialy during the last three months.
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