Lahore: Service Industries Textiles Ltd has responded to an inquiry from the Pakistan Stock Exchange regarding recent unusual movements in its share price, as outlined in a letter dated July 10, 2024, addressed by the PSX. The company clarified its compliance with regulatory disclosures, emphasizing that all necessary price-sensitive information had been shared with the market in a timely manner.

According to information available from the Pakistan Stock Exchange (PSX), the inquiry was prompted by notable fluctuations in the volume and price of shares. In its response, Service Industries Textiles Ltd cited its adherence to Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations, which mandate timely disclosure of all material information that could influence stock prices.

The company further assured that its directors, officers, or any associates are not involved in the trading activities that led to the recent volatility. Additionally, it stated that there is no undisclosed information that could have influenced the share price movements.

Service Industries Textiles Ltd expressed hope that this clarification would suffice to address the concerns raised by the Pakistan Stock Exchange and its stakeholders.

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