Karachi, In a recent disclosure to the Pakistan Stock Exchange (PSE), National Foods Limited has reported a significant transaction involving a director of the company. The disclosure, made in accordance with section 5.6.4 of the PSX Regulations, outlines the acquisition of shares by Zahid Majeed, a director within the company.
According to the details provided, Zahid Majeed purchased 5,000 shares of National Foods Limited on March 14, 2024, at a rate of Rs. 152.00 per share. These shares were bought in the ready market and are held in the Central Depository Company (CDC) form.
The company has confirmed that this transaction will be reviewed in the upcoming board meeting. This review will include an assessment of compliance with the relevant PSX Regulations. Furthermore, National Foods Limited has affirmed that the holding period for these transactions exceeds six months. Should any transaction fall within a six-month period, the company is prepared to deposit the equivalent profit with the Securities and Exchange Commission of Pakistan (SECP), as mandated by section 105 of the Securities Act, 2015, and will duly notify the PSX.
This move by a significant figure within National Foods Limited underscores the ongoing commitment of its executives to invest in the company, while ensuring strict adherence to regulatory requirements and transparency.