Karachi: Pehlaj Rai, a Non-Executive Director of Sindh Abadgars Sugar Mills Limited, has actively increased his stake in the company through several transactions in July and August 2024.

Rai completed four separate share purchases: 23,272 shares at Rs 30.07 each on July 24; 6,777 shares at Rs 34.31 each on July 25; 1,993 shares at Rs 36.50 each on July 29; and 3,323 shares at Rs 36.01 each on August 7. All transactions were conducted in the ready market and the shares were registered electronically in the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), these transactions will be reviewed in the upcoming board meeting of Sindh Abadgars Sugar Mills. The review will include any potential non-compliance issues as mandated under clause No. 5.6.1(d) of the PSX Regulations.

The company has also confirmed that if any of these transactions occurred within six months of their respective dates, the profits would be calculated and the equivalent amount would be deposited with the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015, with proper notification to the PSX.