Karachi: Executive Director Asad Ahmad has recently purchased 200 million shares of Image Pakistan Limited at a rate of 13.55 per share, according to a filing with the Pakistan Stock Exchange. The transaction, which took place on January 1, 2021, signifies a significant investment by a key executive within the company.

On October 2, 2024, Image Pakistan Limited informed the Pakistan Stock Exchange (PSX) that Asad Ahmad, serving as Executive Director, executed a substantial transaction by acquiring shares from the company stock through the Central Depository Company (CDC). This buy order increased Ahmad's total shareholdings to approximately 457.18 million shares, accounting for 19.84% of the company's shares.

The disclosure was made in accordance with PSX Regulation 5.6.4, which mandates timely notification of transactions conducted by directors, CEOs, or substantial shareholders. The company underscored the importance of adhering to regulations that require such transactions to be reported in a subsequent Board of Directors meeting and noted through official channels. Image Pakistan Limited highlighted the need for the transaction details to be updated promptly in the UIN Management System, ensuring compliance with PSX disclosure requirements.

The significant acquisition by a high-ranking executive typically reflects confidence in the company's future prospects and can influence market perceptions and investor confidence.

According to information available from the Pakistan Stock Exchange (PSX), the shares must be held for at least six months, demonstrating a commitment to the company's long-term stability. Additionally, in cases where transactions exceed a certain threshold, the equivalent value must be deposited with SECP, which aligns with the Securities Act, 2015.