Karachi, Chashma Sugar Mills Limited has disclosed a recent transaction involving one of its Non-Executive Directors, Mr. Abbas Sarfaraz Khan. On September 27, 2023, Mr. Khan executed a purchase of 13,000 shares of the company at a rate of 59.75 per share through CDC (Central Depository Company) Ready certificates.

The company has stated that this transaction will be formally presented at the upcoming board meeting. It will be scrutinized to ensure compliance with regulatory requirements, as mandated by clause No. 5.6.1 (d) of PSX Regulations. Any non-compliance, if detected, will be duly highlighted for the board's consideration.

Chashma Sugar Mills Limited has also confirmed that the holding period for this transaction exceeds six months. In the event that the holding period was less than six months, the company would have been required to deposit the equivalent profit amount with the Securities and Exchange Commission of Pakistan (SECP) in accordance with Section 105 of the Securities Act, 2015. This would have been done with prior intimation to the Pakistan Stock Exchange (PSX).

This disclosure underscores the company's commitment to transparency and adherence to regulatory standards while providing shareholders and stakeholders with insights into significant transactions involving its executives and directors.