Karachi: Safe Mix Concrete Limited has announced that Mr. Muhammad Hamza Riaz has become a significant shareholder, now holding more than 10% of the company’s voting shares. This development follows his recent acquisition of 17,000 shares on October 17, 2024, bringing his total to 2,503,895 shares, equivalent to 10.02% of Safe Mix's total issued voting shares.

According to information available from the Pakistan Stock Exchange (PSX), this substantial acquisition aligns with the regulations set under the Securities Act of 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The company has communicated this change to the General Manager of the Pakistan Stock Exchange to ensure all procedural transparency and regulatory compliance.

Safe Mix Concrete Products Limited, listed on the PSX and engaged in the production and supply of ready-mix concrete, building blocks, and prefabricated construction sites, sees this shift in shareholding as a pivotal moment in its corporate governance narrative. The company’s stakeholders and TRE Certificate holders have been duly informed of these changes to maintain market integrity and shareholder trust.