Karachi: Sanghar Sugar Mills Limited has announced a significant share purchase by its Chief Executive Officer, Mr. Ghulam Hyder. The transaction, involving the acquisition of 5,500 shares at a rate of PKR 26.00 per share, was conducted on June 28, 2024. This transaction will be reviewed in the upcoming Board Meeting to address any potential non-compliance issues as mandated by Pakistan Stock Exchange regulations.

The shares acquired by Mr. Hyder were in physical form, a detail that underscores the traditional methods still employed in some transactions at the Exchange. According to information available from the Pakistan Stock Exchange (PSX), this disclosure aligns with the regulatory framework requiring such transactions to be reported and scrutinized under clause No. 5.6.1.(d) of PSX Regulations.

The company has confirmed that this transaction has been executed following the stipulated holding period. If the purchase falls within six months, a cheque equivalent to the profit from this transaction will be deposited with the Securities and Exchange Commission of Pakistan (SECP), as per the requirements of Section 105 of the Securities Act, 2015.

This compliance measure ensures transparency and fairness in the trading activities of executives and significant shareholders, reflecting the rigorous standards set by the PSX to uphold market integrity.