Karachi: Mandviwala Mauser Plastic Industries has announced a significant development regarding the shareholding status of its CEO and Executive Director, Azeem Hakim Mandviwala. On December 27, 2024, Mandviwala executed a transaction to purchase additional shares in the company, thereby increasing his stake.

The transaction involved the purchase of 24,700 shares at an average rate of 16.00 per share. These shares were acquired in physical form under the NDM market category. With this acquisition, Mandviwala's cumulative shareholding has risen to 22,713,988 shares, representing 79.01% of the total shareholding in Mandviwala Mauser Plastic Industries.

Prior to this transaction, Mandviwala held 22,689,288 shares, which constituted 78.92% of the company's total shares. The increase in shareholding underscores the director’s confidence in the company's prospects and his commitment to its future growth. This development will be presented for consideration in the upcoming board meeting, adhering to clause No.5.6.4 of the Pakistan Stock Exchange (PSX) Regulation.

According to information available from the Pakistan Stock Exchange (PSX), the execution of this transaction is a significant move, reflecting the director's strategic intentions with respect to the company's direction and market position. The board meeting will further deliberate on this acquisition to ensure compliance with corporate governance requirements.