CWSM fails to pay PSX-imposed penalty

June 25, 2025 (MLN): Chakwal Spinning Mills Limited (CWSM) has failed to pay the penalty imposed by the Pakistan Stock Exchange (PSX) under Clause 5.21.1 of the PSX Regulations.

As a result, this non-compliance has triggered further disciplinary action in accordance with Clause 5.11.1(d) of the PSX Regulations.

According to Clause 5.11.1(d), a listed company may be placed in the Non-Compliant Segment if it fails to pay certain dues within the specified time, as per the notice issued by PSX.

These dues include the annual listing fees for two years, any penalty imposed by the Exchange through a final order, or any other amounts payable under the Regulations.

CWSM is already placed in the Non-Compliant Segment due to suspended commercial production or business operations in its principal line of business, as well as an adverse opinion issued by the statutory auditor in its audit report.

The additional non-compliance under Clause 5.11.1(d) has now been reflected in the Daily Quotations of the Exchange, effective June 25, 2025.

As per Clause 5.11.3(c) of the PSX Regulations, CWSM has been instructed to rectify the non-compliance within 90 days, i.e., by September 23, 2025.

Failure to do so may result in further actions under Clause 5.11.3(d), which could include the issuance of a Risk Warning Alert (RWA) against CWSM.

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