Lahore: Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, executed a significant transaction on August 23, 2024. The company purchased 40 shares at a rate of PKR 350 per share in a deal that was conducted through the Central Depository Company (CDC) in the ready market.

This transaction, involving the purchase of shares, will be reviewed in the upcoming board meeting of Ibrahim Fibres Limited. The board will address any non-compliance issues related to this transaction as stipulated under clause No. 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations. According to information available from the Pakistan Stock Exchange (PSX), the company has confirmed that the holding period for these transactions extends over six months. However, if the holding period were under six months, any profits would have necessitated a corresponding deposit with the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015, with due notification to the PSX.

This disclosure is part of the regulatory requirements that ensure transparency and governance in transactions involving executives, directors, and substantial shareholders of listed companies.