Karachi: Ghandhara Industries Limited has disclosed a significant transaction by a substantial shareholder, according to a recent notification to the Pakistan Stock Exchange. The transaction involved the sale of company shares and will be reviewed in the upcoming board meeting for any non-compliance issues.
On August 09, 2024, Bibojee Services (Pvt.) Limited, identified as a substantial shareholder, executed a sale of 70,000 shares of Ghandhara Industries at a rate of 425.33 PKR per share. This transaction took place in the Ready market through CDC (Central Depository Company) form of share certificates. According to information available from the Pakistan Stock Exchange (PSX), this significant transaction is slated for review in the subsequent board meeting. The disclosure also included assurances that the transaction adhered to the holding period requirements set by the Securities Act of 2015. If the sale had occurred within six months of acquisition, the profits would be subjected to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP) as mandated.
Furthermore, Ghandhara Industries confirmed that all necessary details regarding the transaction have been duly reported to the PSX. They also assured that any profits from sales within the stipulated six-month period would be managed according to legal financial obligations, ensuring full compliance with regulatory standards.