Karachi: In a recent transaction compliant with the Pakistan Stock Exchange (PSX) regulations, Syed Mazhar Iqbal, an Independent Director of Fast Cables Limited, purchased 30,000 shares of the company on July 10, 2024. The shares were acquired at a rate of 23.42 per share and were registered under the Central Depository Company (CDC) in the ready market.

According to information available from the Pakistan Stock Exchange (PSX), the transaction will be reviewed in the forthcoming board meeting to ensure adherence to the regulatory requirements outlined in clause No. 5.6.1.(d) of PSX Regulations. The company has confirmed that all such transactions are highlighted during the board meetings for necessary action on any non-compliances.

Further details indicate that the holding period for these transactions is over six months. If any such transactions occur within a six-month period, the profit equivalent will be deposited with the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015, and duly reported to the PSX.

This disclosure aligns with the ongoing commitment of Fast Cables Limited to maintain transparency in its executive transactions and adherence to the regulatory frameworks governing securities transactions in Pakistan.