Karachi, Gharibwal Cement Limited has officially announced the transfer back of 875,000 shares by its Chief Executive, Mr. Muhammad Tousif Peracha. The shares, purchased at a rate of Rs. 0.02, were returned on September 26, 2023, as part of a mutual agreement between Mr. Tousif Peracha and Mr. Shaffidddin Peracha through NOM (Negotiated Off-Market) trading.

This transaction represents a portion of the total shares agreed upon for transfer, amounting to 5,250,000 shares of Gharibwal Cement Limited. Mr. Tousif Peracha had previously communicated the transaction details through a letter dated July 11, 2023.

The shares are being transferred back at a nominal price of Rs. 0.02, a cost designed to cover commissions and other associated expenses. The company has clarified that all remaining shares transactions will also be conducted at the same price.

This move demonstrates the commitment to transparency and adherence to established protocols within Gharibwal Cement Limited's corporate governance framework.