Karachi: Shahzad Textile Mills Limited has reported a significant transaction involving its Chairman and Director, Mian Parvez Aslam, according to a recent filing with the Pakistan Stock Exchange. On August 26, 2024, Mian Parvez Aslam inherited a total of 850,150 shares of the company, as disclosed under the regulations of the PSX. According to information available from the Pakistan Stock Exchange (PSX), the shares were transferred in two separate tranches, with 596,689 shares received through the Central Depository Company (CDC) and 253,461 shares transferred physically.

The inherited shares, valued at a rate of 0 per share, reflect compliance with the inheritance procedures under the company's guidelines and PSX regulations. The transactions will be reviewed in the upcoming Board Meeting, where any potential non-compliance issues will be addressed as mandated by clause No. 5.6.1(d) of the PSX Regulation.

Shahzad Textile Mills has confirmed the completion of the transaction and assured that all details will be duly presented and confirmed to the Exchange as required. The board's review will ensure that all regulatory requirements and governance standards related to the inheritance and transfer of shares are thoroughly adhered to.