AHTM clarifies non-disclosure of ICA information, citing insignificant impact

MG News | January 27, 2025 at 10:48 AM GMT+05:00

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January 27, 2025 (MLN): Ahmad Hassan Textile Mills Limited (PSX: AHTM) clarified that the International Cotton Association (ICA) information was not communicated to the Exchange because the board of directors was of the opinion that it does not have a significant impact on operations, revenues, and profitability.

Several substitute alternatives were available in the market to use cotton, the company's filing on PSX revealed today.

Management is also trying to resolve the matter with the supplier and the ICA.

After the demerger in 2019, AHTM is now operating only as a weaving unit and requires raw materials in the form of yarn, rather than cotton.

In light of this, the company did not deem the mentioned news as price-sensitive information and has requested PSX to withdraw the notice.

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