Lahore: Nishat Chunian Power Limited has disclosed a significant share transaction involving a substantial shareholder. On October 15, 2024, Mr. Shahzad Saleem, a substantial shareholder of the company, transferred 1,721,559 shares to his mother. The transfer was executed as a gift, according to official documents.

The transaction details indicate that after the transfer, Mr. Saleem's cumulative shareholding stands at 63,090,422 shares. This transaction will be discussed in the upcoming board meeting, as stipulated under clause 5.6.4 of the Pakistan Stock Exchange (PSX) regulations.

According to information available from the Pakistan Stock Exchange (PSX), the holding period for this transaction exceeds six months. If the period had been less than six months, any profit derived would have required a cheque equivalent to be deposited with the Securities and Exchange Commission of Pakistan (SECP), following Section 105 of the Securities Act, 2015, with due intimation to the PSX.