Lahore: Kohinoor Spinning Mills Limited has reported a significant transaction involving its Executive Director, Mohammad Hamza Yousaf, who has disclosed a gift of shares, in compliance with the Pakistan Stock Exchange (PSX) Regulation 5.6.4. The disclosure was made public as part of regulatory requirements aimed at maintaining transparency and accountability in shareholding activities.

According to the disclosure, Mohammad Hamza Yousaf, who serves as an Executive Director of the company, executed a transaction categorized as "GIFT OUT" involving 5.00 million shares. The transaction was processed through the Central Depository Company (CDC) and was recorded on November 11, 2024. Notably, the shares were transferred at a rate of 0.00 per share, indicating a non-monetary transfer.

Following this transaction, the cumulative number of shares held by Yousaf stands at 22.20 million, representing a cumulative percentage of 5.39% of the company's total shares.

According to information available from the Pakistan Stock Exchange (PSX), such disclosures are mandated to ensure that all transactions by directors, CEOs, executives, substantial shareholders, and their immediate family members are transparent and publicly available. This regulation is part of a broader effort to promote corporate governance and safeguard investor interests.

The transaction highlights the importance of regulatory adherence for listed companies to provide timely and accurate information about shareholding changes, which can impact investor decisions and market dynamics.