Karachi: Sindh Abadgar's Sugar Mills Limited disclosed a series of transactions by Mr. Pehlaj Rai, a non-executive director of the company. These transactions, which occurred between August 23 and August 29, 2024, have increased his total shareholding to 893,045 shares, or 8.57% of the company.
Mr. Rai engaged in four separate share purchases during the last week of August 2024. The first transaction on August 23 involved the purchase of 100 shares at a price of PKR 36.32 each, followed by another 100 shares on August 28 at PKR 36.00. On the same day, he bought an additional 300 shares at PKR 36.32. The largest transaction occurred on August 29, with 5,200 shares acquired at PKR 34.00 each. All transactions were conducted through the Central Depository Company (CDC) on the Ready Market.
According to information available from the Pakistan Stock Exchange (PSX), the company confirmed that these transactions will be reviewed in the upcoming board meeting, ensuring compliance with the PSX regulations, specifically under clause No. 5.6.1(d). It is also noted that since the holding period for these transactions exceeds six months, the cheque equivalent to the profit from these shares will be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated by section 105 of the Securities Act, 2015.