Karachi: Power Cement Limited (PCL) has reported significant trading activities involving its substantial shareholders, Arif Habib Equity (Pvt.) Limited (AHEPL) and Arif Habib Corporation Limited (AHCL), according to details released on July 29, 2024. These transactions align with the regulatory compliance under clause 5.6.4 of the Pakistan Stock Exchange (PSX) Rule Book, and signal a strategic maneuver within the shareholding framework of the company, though control percentages remain constant.

According to information available from the Pakistan Stock Exchange (PSX), the specifics of the transactions indicate that AHEPL sold a total of 207.78 million ordinary shares of PCL at a rate of Rs. 5.25 per share, while AHCL purchased an equivalent number of shares on the same day. Notably, the transactions were executed in the form of Central Depository Company (CDC) certificates within the Non-Designated Market (NDM) category.

Despite these large-volume transactions, the overall control of PCL by the Arif Habib Group, in conjunction with other partners, continues to exceed fifty percent. It is stated that the Arif Habib Group's shareholding percentage in Power Cement Limited remains unchanged post-transactions. This event underscores the group's maintained influence over the company, either directly or indirectly.

Furthermore, the disclosed transactions will be discussed in the subsequent board meeting for further consideration and formal approval, as stipulated under the relevant PSX regulations.

In related notices, AHEPL's sale has reduced its holding of ordinary shares in PCL to zero, with the company still retaining 73 million preference shares, marking a 5.53% stake in PCL's capital. Conversely, AHCL's purchase increases its holding to 257.42 million ordinary shares and 18.77 million preference shares, thus owning 20.92% of PCL's capital.

These developments will be formally communicated to the PSX as part of ongoing compliance and transparency measures by Power Cement Limited.