UNUSUAL MOVEMENT IN THE PRICE OF THE SHARES OF GULSHAN SPINNING MILLS LTD.

Karachi: Gulshan Spinning Mills Ltd. has reported no internal or external causes for the recent unusual fluctuations in its share prices, according to a letter addressed to the Pakistan Stock Exchange (PSX). The company responded to inquiries regarding its trading activity by confirming the stability of its financial and operational status.

The letter, a response to PSX’s request for clarification under Section 97 of the Securities Act, 2015 and clause 5.6.3 of the PSX Regulations, was issued on August 06, 2024. In it, Gulshan Spinning Mills assured that there have been no material developments or operational changes that would justify the recent volatility in its stock value.

According to information available from the Pakistan Stock Exchange (PSX), the exchange had noticed significant changes in the trading volume and price of the company’s shares, prompting concerns over undisclosed material information.

The company has committed to maintaining transparency with the market, emphasizing its obligation under the Securities Act to disclose any relevant information that may affect shareholder interests. Gulshan Spinning Mills continues to monitor the situation closely and has promised to keep the exchange updated on any developments that could impact its financial health or stock performance.

Gulshan Spinning Mills Ltd. encourages stakeholders and interested parties to reach out with any further inquiries for clarification regarding the current trading anomalies.

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