Karachi: In a significant personal financial move, Muhammad Umer, Director of Stylers International Limited, has transferred 9.114 million shares to his wife, Muniba Umer, as reported on October 23, 2024. This transfer is noted as a gift and has been formally disclosed to the Pakistan Stock Exchange (PSX) in compliance with PSX regulations.

Muhammad Umer’s transfer of shares represents 1.86% of the company’s total shareholding. The transaction was conducted through the Central Depository Company (CDC) on October 21, 2024. According to information available from the Pakistan Stock Exchange (PSX), such disclosures are mandatory under clause No. 5.6.4 of the PSX regulations, which pertain to substantial transactions by directors, CEOs, or executives of listed companies.

This disclosure ensures transparency in the operations of Stylers International, reinforcing trust among investors by adhering to the stringent disclosure requirements set by market regulators. The company has confirmed that this transaction will be reviewed in the upcoming board meeting, and any non-compliance issues, if identified, will be addressed accordingly.