Gammon Pakistan Limited Reports Unexplained Stock Price Fluctuation

Karachi: Gammon Pakistan Limited (GPL) has reported an unusual movement in its share prices during July 2024, not linked to any disclosed information by the company. According to information available from the Pakistan Stock Exchange (PSX), the company has addressed concerns regarding the unexpected stock price movements through a formal statement.

GPL expressed surprise over the recent fluctuations, noting that it has been experiencing financial losses for the past three years. The company’s financial details are available on the PSX portal, which the share registrar has also been informed about. This measure ensures that all pertinent data regarding the company’s financial state and stock movements are transparently shared.

Further, the company clarified that neither its Board of Directors nor any executives have engaged in trading of the shares during this period. GPL emphasized its lack of knowledge about any specific reasons for the stock price movement, stating that it is unaware of any developments that could have triggered this.

The company has requested that this explanation be taken into account for a favorable resolution of the issue and has committed to strict compliance in the future to prevent similar occurrences.