Karachi July 31 2024: According to the notice uploaded on the Pakistan Stock Exchange, since Mubarak Textile Mills Limited has not yet addressed the causes of the suspension of trading in its shares related to non-compliance with Clauses 5.11.1.(a), (g), and 5.11.2.(b) of the PSX Regulations.
These regulations include suspended commercial production/business operations in its principal line of business, an adverse opinion issued by the statutory auditor in the company’s financial statements, and a winding-up petition filed against the company by the SECP in court—it has been decided that trading in the company’s shares shall remain suspended until the causes of suspension are rectified or for another period of 60 days, effective from August 1, 2024.
This decision has been made under the powers vested in the Exchange by Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations.
