Karachi, Millat Tractors Limited, a leading manufacturer of agricultural machinery and industrial equipment, announced that one of its Non-Executive Directors, Mr. Laeeq ud Din Ansari, has significantly increased his stake in the company through a series of share purchases.
The transactions took place on September 8, 2023, and were disclosed in accordance with regulatory requirements. Mr. Laeeq ud Din Ansari made a total of ten purchases on that day, acquiring a substantial number of shares in the company. The details of the transactions are as follows:
1. 107 shares at a rate of PKR 444.00 per share.
2. 1 share at a rate of PKR 444.49 per share.
3. 700 shares at a rate of PKR 444.50 per share.
4. 10 shares at a rate of PKR 444.79 per share.
5. 2000 shares at a rate of PKR 444.89 per share.
6. 150 shares at a rate of PKR 444.90 per share.
7. 5 shares at a rate of PKR 444.97 per share.
8. 1508 shares at a rate of PKR 444.98 per share.
9. 21 shares at a rate of PKR 444.99 per share.
10. 5332 shares at a rate of PKR 445.00 per share.
These transactions were executed through the Central Depository Company (CDC) and involved ready shares in the market.
Mr. Laeeq ud Din Ansari's increased stake in Millat Tractors Limited demonstrates his confidence in the company's future prospects and underscores his commitment to its success. As a Non-Executive Director, his decision to acquire a significant number of shares aligns with the company's goals and strategies for growth.
Millat Tractors Limited, a renowned name in the agricultural and industrial sectors, manufactures a wide range of tractors, engines, and agricultural equipment that serve both domestic and international markets. The company has a strong track record of innovation and excellence, contributing significantly to Pakistan's agricultural productivity.
This move by Mr. Laeeq ud Din Ansari is expected to be closely monitored by shareholders and industry analysts, as it reflects not only his personal confidence but also provides insights into the company's current financial health and future prospects.
As of now, Millat Tractors Limited has not commented on the development, and it remains to be seen how this increased stake will impact the company's operations and long-term strategy.