Karachi: Fast Cables Limited has disclosed a recent share transaction executed by a director of the company, as part of regulatory requirements set by the Pakistan Stock Exchange (PSX). According to the information released, Muhammad Usman, a director at Fast Cables Limited, sold 4,225 shares of the company on October 11, 2024. The shares were sold at a rate of 24.70 per share in the market through the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), the transaction will be reviewed and presented at the subsequent board meeting. The meeting will highlight any potential non-compliance issues as mandated by clause 5.6.1.(d) of PSX Regulations for the board's consideration. Additionally, the company confirmed that the holding period for this transaction exceeded six months. If the holding period had been within six months, any profit made would have been required to be deposited with the Securities and Exchange Commission of Pakistan (SECP) in accordance with Section 105 of the Securities Act, 2015, with notification to PSX.

Fast Cables Limited assured that all necessary procedures have been followed and any deviations will be addressed in the upcoming board meeting.