Karachi: Mansoor Riaz, a non-executive director at Crescent Fibres Limited, acquired 3,099 shares of the company on July 12, marking a significant transaction under the Pakistan Stock Exchange regulations. According to information available from the Pakistan Stock Exchange (PSX), the transaction was carried out at a price of 59.00 per share, amounting to a total investment of 182,841.

This purchase by Riaz was made in compliance with clause 5.6.1.(d) of the PSX Regulations, which governs the disclosure of interests by directors, executives, their spouses, and substantial shareholders. The shares were acquired through the Central Depository Company (CDC) and were designated as 'Ready' market shares.

The company confirmed that this transaction will be discussed in the upcoming board meeting, with a focus on addressing any non-compliance issues that may have arisen. They further assured that the holding period for the shares is over six months. However, if it were within six months, the profit from these shares would be subject to a deposit with the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015.

This transaction underscores the strict regulatory framework within which listed companies and their affiliates must operate, ensuring transparency and adherence to legal standards in financial dealings.