Sitara Peroxide Limited (PSX: SPL) has extended the suspension of operations for another 30 days, the company informed the Pakistan Stock Exchange (PSX) on Tuesday.
The filing stated, “In continuation of our letter dated October 13, 2023 with respect to suspension of production due to repair work and replacement of heavy cables and in pursuant to provisions of clause 5.6.1(a) of Rule Book of Pakistan Stock Exchange (PSX), section 96 and 131 of the Securities Act, 2015, we would like to inform that the management has decided to extend the suspension of plant operation for another 30 days”.
SPL has so far had a quiet year after initially stopping production activities in January 2023. Later on February 14, it extended the suspension of plant operations and production activities for 10 more days before rebooting again on February 24. On 16 August, it again suspended production before extending the hiatus by another 30 days on September 8, 2023.
The principal activity of the Company is the manufacturing and sale of hydrogen peroxide.
At the time of filing, SPL’s scrip at the bourse was Rs. 15.7, down 6.71 percent or Rs. 1.13 with a turnover of 100,000 shares on Tuesday.
