Karachi: Shahmurad Sugar Mills Ltd. has announced that Noor Mohammad Zakaria, a director of the company, has received a gift of 64,816 shares from his sister, Shaheen Ashfaq Patel. The notification was made in accordance with regulation 5.6.1(d) of the Rule Book of the Pakistan Stock Exchange.

In a statement released on August 11, 2025, the company disclosed the transaction details, highlighting Mr. Zakaria's receipt of the shares. The shares were transferred in electronic form through the Central Depository Company (CDC), a common practice for such transactions. The nature of the transaction was categorized as a gift, specifying that no financial consideration was involved.

According to information available from the Pakistan Stock Exchange (PSX), the transaction aligns with the compliance requirements of Sub-clause 5.6.1(d) and 5.19.15 of the Exchange Rule Book. The transaction does not constitute a market trade and thus did not impact the publicly traded share price of Shahmurad Sugar Mills Ltd.

The designated market category for this transaction remains unaffected as it was a personal transfer of shares within family members. The transfer is part of routine disclosures required by the exchange to ensure transparency in dealings related to company directors.

As of August 7, 2025, the formal date of the transaction, the shares were listed as being held electronically within the CDC, further underscoring the adherence to standard procedures in securities management.

Such transactions highlight the importance of regulatory compliance and transparency in corporate governance within publicly listed companies on the PSX.