Habib Bank Limited’s Substantial Shareholder, Aga Khan Fund for Economic Development, Increases Stake with Multiple Share Purchases

Karachi, In a series of transactions, the Aga Khan Fund for Economic Development, a substantial shareholder of Habib Bank Limited, has increased its stake in the company. The details of each transaction are as follows:

1. On May 9, 2023, the Aga Khan Fund for Economic Development bought 318 shares of Habib Bank Limited at a rate of 73.69 per share. The transaction was executed through the Central Depository Company (CDC), and the shares were in ready form.

2. On the same day, the fund made another purchase, buying 65,673 shares of the company at a rate of 73.70 per share. The transaction was also conducted through the CDC in ready form.

3. The Aga Khan Fund for Economic Development continued to increase its stake with the acquisition of 200 shares on May 9, 2023, at a rate of 73.73 per share. The shares were in ready form and traded through the CDC.

4. A further purchase of 197 shares was made by the fund on the same day, at a rate of 73.74 per share. The transaction was executed through the CDC, and the shares were in ready form.

5. On May 9, 2023, the Aga Khan Fund for Economic Development bought a significant number of shares, acquiring 92,977 shares of Habib Bank Limited at a rate of 73.75 per share. The transaction was conducted through the CDC in ready form.

6. Additionally, the fund purchased 10,000 shares on the same day, at a rate of 73.78 per share. The shares were in ready form and traded through the CDC.

7. Another purchase of 14,000 shares was made by the Aga Khan Fund for Economic Development on May 9, 2023, at a rate of 73.79 per share. The transaction was executed through the CDC, and the shares were in ready form.

8. The fund further increased its stake with the acquisition of 76,000 shares on the same day, at a rate of 73.80 per share. The transaction was conducted through the CDC in ready form.

9. On May 9, 2023, the Aga Khan Fund for Economic Development purchased 10,295 shares at a rate of 73.85 per share. The shares were in ready form and traded through the CDC.

10. Finally, the fund made a purchase of 1,600 shares on the same day, at a rate of 73.94 per share. The transaction was executed through the CDC, and the shares were in ready form.

These transactions indicate the Aga Khan Fund for Economic Development's increasing interest and confidence in Habib Bank Limited, as it continues to add to its stake in the company.

BankIslami Pakistan Limited Elects New Directors and Embraces Digital Financial Reporting

Karachi, In an Extra Ordinary General Meeting held on May 10, 2023, BankIslami Pakistan Limited, a prominent banking institution, passed several resolutions that will shape its future course. The meeting saw the confirmation of the minutes from the bank's 191st Annual General Meeting held on March 30, 2023.

One of the key resolutions adopted by the bank was the election of new Directors who will serve for a statutory term of three years. The following individuals were elected as Directors, effective from May 10, 2023: Mr. Ali Hussain, Mr. Akhtar Abbas, Mr. Haider Ali Hilaly, Ms. Iffat Zehra Mankani, Mr. Suleman Lalani, Mr. Suleiman Sadruddin Mehdi, and Mr. Syed Ali Hasham. Their expertise and diverse backgrounds are expected to contribute significantly to the bank's future growth and strategic direction.

The bank decided to discontinue the circulation of annual audited financial statements through CD/DVD/USB, considering these technologies as outdated and becoming obsolete. Instead, the bank will utilize modern methods such as QR codes, web links, and digital platforms to circulate the annual audited financial statements to its members. This shift towards a digital approach aims to enhance accessibility, efficiency, and sustainability in financial reporting processes.

BankIslami Pakistan Limited's decision to leverage digital technology in financial reporting aligns with the industry's ongoing digitalization trend, promoting transparency and convenience for its stakeholders. The bank's commitment to adopting modern practices reflects its proactive approach to staying at the forefront of the ever-evolving banking landscape.

Sazgar Engineering Works Limited Reports Strong Production and Sales Figures for Three Wheelers and Four Wheelers in April 2023

Karachi, Sazgar Engineering Works Limited, a renowned automotive manufacturer, has recently released its production and sales data for the month of April 2023, showcasing impressive performance in both the three-wheeler and four-wheeler segments.

In the three-wheeler category, Sazgar Engineering Works Limited recorded a production figure of 244 units. This demonstrates the company's commitment to meeting the demand for efficient and reliable three-wheelers. Moreover, the sales figures for the same period were even more remarkable, with a total of 406 units sold. This robust sales performance indicates a strong market acceptance and customer satisfaction with Sazgar's three-wheeler offerings.

Moving on to the four-wheeler segment, Sazgar Engineering Works Limited showcased its versatility by producing a total of 103 units of off-road and passenger vehicles in April 2023. These vehicles cater to diverse customer needs, ranging from rugged off-road adventures to comfortable passenger transportation. Although the production figures were slightly lower than those of three-wheelers, Sazgar's four-wheelers continued to gain traction in the market.

In terms of sales, Sazgar Engineering Works Limited achieved a commendable figure of 89 units for its four-wheelers in April 2023. This solid sales performance underscores the company's ability to attract customers and generate demand for its diverse range of four-wheelers, reaffirming its position as a prominent player in the automotive industry.

Shell Pakistan Limited Releases Quarterly Report for 1st Quarter 2023

Karachi, Shell Pakistan Limited has announced the transmission of its Quarterly Report for the period ended March 31, 2023. The comprehensive report provides an overview of the company's performance during the first quarter of the year and is now accessible on Shell Pakistan Limited's official website.

Within the report, Shell Pakistan Limited presents a detailed analysis of its revenue generation, including a breakdown of income from various business segments. It also provides an overview of the company's expenses, profitability, and cash flow position. Furthermore, the report sheds light on any significant events, projects, or partnerships undertaken by Shell Pakistan Limited during the period.

The release of the Quarterly Report for 1st Quarter 2023 reflects Shell Pakistan Limited's ongoing efforts to maintain open communication channels with its stakeholders. It provides a comprehensive overview of the company's financial performance and operational activities, promoting transparency and ensuring that investors and the public are kept informed about its progress.

Aga Khan Fund for Economic Development Increases Stake in Habib Bank Limited with Significant Share Purchases

Karachi, Habib Bank Limited has been revealed that the Aga Khan Fund for Economic Development, a substantial shareholder, has made several significant purchases of shares in the company. The transactions, which took place on May 9, 2023, indicate a notable increase in the Fund's stake in Habib Bank Limited.

The first transaction involved the purchase of 69,151 shares at a rate of 73.00. This was followed by the acquisition of an additional 7,446 shares at a rate of 73.20. Subsequently, the Fund purchased 15,499 shares at 73.24 and 18,501 shares at 73.25.

Continuing its investment activity, the Aga Khan Fund for Economic Development proceeded to purchase 9,001 shares at 73.35 and 10,000 shares at 73.40. Furthermore, the Fund acquired 2,000 shares at 73.47 and 4,996 shares at 73.48.

The largest transaction among these purchases occurred when the Fund bought a significant number of shares, totaling 141,658, at a rate of 73.50. Lastly, the Fund acquired 16,605 shares at 73.60, further solidifying its stake in Habib Bank Limited.

These transactions highlight the confidence and interest displayed by the Aga Khan Fund for Economic Development in the future prospects of Habib Bank Limited. The Fund's increased investment in the company demonstrates its belief in the long-term growth and profitability of the bank.

Oil and Gas Development Company Limited Announces Resignation of Director

Karachi, Mr. Sajid Mehmood Qazi has stepped down from his position as Director of the renowned Oil and Gas Development Company Limited. His resignation came into effect on May 9, 2023. As of now, no replacement has been appointed to fill the vacant directorial position.

Mr. Qazi's departure marks the end of an era at Oil and Gas Development Company Limited, where he played a vital role in shaping the company's growth and success. During his tenure, he spearheaded numerous initiatives that contributed significantly to the company's achievements.

The company expressed its gratitude for Mr. Qazi's valuable contributions, acknowledging his strategic vision, leadership, and dedication throughout his tenure. His expertise and guidance will be missed as OGDCL continues its mission to further enhance its operations and maintain its position as a key player in the industry.

Saudi Pak Leasing Company Limited Postpones 166th Board of Directors Meeting

Karachi, Saudi Pak Leasing Company Limited announced the postponement of its highly anticipated 166th Board of Directors (Emergent) Meeting. The decision was made on the instructions of the Board and comes as a surprise to many stakeholders eagerly awaiting the outcome of the meeting.

Scheduled to be held via video link, the 166th Board of Directors Meeting was expected to address several crucial matters concerning the company's future plans and strategies. However, due to unforeseen circumstances, the meeting has been temporarily put on hold until further notice.

The 166th Board of Directors Meeting was expected to be a crucial milestone for the company, presenting an opportunity to discuss important matters affecting the company's operations, financials, and strategic direction. Stakeholders had been eagerly awaiting updates on the company's performance, expansion plans, and potential new ventures.

Service Global Footwear Limited Credits Final Cash Dividend to Shareholders’ Bank Accounts

Karachi, Service Global Footwear Limited has electronically credited the final cash dividend for the year ended December 31, 2022. Shareholders were delighted to receive a dividend of Rs.1 per share, amounting to a generous 10% return on their investment. The distribution of dividends took place on May 9, 2023, with the designated bank accounts of the company's shareholders receiving the funds.

The final cash dividend distribution reflects the strong financial position and performance of Service Global Footwear Limited. With this dividend payout, the company demonstrates its stability and ability to generate substantial returns for its shareholders. This dividend payment serves as a testament to the company's commitment to maximizing shareholder value and fostering long-term relationships with its investors.

Saif Power Limited’s Non-Executive Director, Mr. Javed Saifullah Khan, Purchases 1000 Shares at 15.00 per Share

Karachi, In a recent disclosure of interest by the directors, CEO, executives, their spouses, and substantial shareholders of Saif Power Limited, details of the transactions have been unveiled. Among these transactions, Mr. Javed Saifullah Khan, a Non-Executive Director of the company, made a significant purchase of shares.

On May 9, 2023, Mr. Javed Saifullah Khan executed a buy transaction, acquiring 1000 shares of Saif Power Limited. The shares were obtained at a rate of 15.00 per share. The form of share certificates for this transaction is physical, with no additional details provided regarding the market in which the shares were traded.

Mr. Javed Saifullah Khan's purchase of Saif Power Limited shares indicates his confidence and belief in the company's potential for growth and profitability. This transaction highlights his commitment to the company's long-term success and his dedication to maximizing shareholder value.

Pakistan Petroleum Limited Releases Details of Unclaimed Dividends Overdue for 3 Years

Karachi, Pakistan Petroleum Limited (PPL) has announced the availability of information regarding unclaimed dividends that have been overdue for more than three years. The dividends in question were accrued between 1st January 2022 and 31st December 2022. Shareholders can now access the details on the company's official website: www.ppl.com.pk.

Any shareholder who believes they are entitled to unclaimed dividends should promptly submit their claim, adhering to the guidelines mentioned on the website. PPL will diligently evaluate all submitted claims and process them in accordance with applicable regulations.

Reliance Insurance Company Limited Credits Final Cash Dividend of Rs. 0.50 per Share to Shareholders’ Bank Accounts

Karachi, Reliance Insurance Company Limited has announced yesterday that the final cash dividend for the year ended December 31, 2022, has been electronically credited to the designated bank accounts of its shareholders. The dividend, amounting to Rs. 0.50 per share or 5% of the company's value, was distributed on May 10, 2023.

The dividend distribution comes as a result of Reliance Insurance Company's strong financial performance throughout the year 2022.

Fatima Fertilizer Company Limited’s Executive Engages in Significant Share Transactions

Karachi, In recent developments, Fatima Fertilizer Company Limited's executive, Muhammad Riaz, has made noteworthy transactions involving the company's shares. The details of these transactions are as follows:

1. On May 9, 2023, Muhammad Riaz executed a BUY transaction. He acquired 2 shares of Fatima Fertilizer Company Limited at a rate of 28.05. The transaction was carried out through CDC (Central Depository Company), and the shares were in ready form.

2. Simultaneously on May 9, 2023, Muhammad Riaz engaged in a SELL transaction, divesting 1000 shares of the company. The shares were sold at a rate of 28.03, also through CDC in ready form.

3. On May 8, 2023, Muhammad Riaz conducted another SELL transaction, this time disposing of 687 shares. The shares were sold at a rate of 28.60 through CDC in ready form.

These transactions involving a Fatima Fertilizer Company Limited executive have sparked interest and scrutiny within the market. Such activities by key individuals within a listed company often raise questions about the company's future prospects and potential implications for its stock performance.

It is important to note that the disclosure of these transactions aims to ensure transparency and accountability in the company's operations.