Karachi, According to information available from the Pakistan Stock Exchange (PSX), a significant transaction involving shares of Hi-Tech Lubricants Limited has been executed by a substantial shareholder. Mrs. Uzra Tahir, the shareholder in question, gifted out 2,000,000 shares on May 13, 2024. The shares were transferred via CDC, and no monetary exchange was reported in this transaction.

The company confirmed that this transaction would be reviewed in the upcoming board meeting, with a focus on any potential non-compliance with PSX Regulations, specifically clause No. 5.6.4. Additionally, it was confirmed that the holding period for these shares exceeded six months. If it had been less, the profits would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan as mandated by Section 105 of the Securities Act, 2015.

The company has also advised TRE Certificate Holders at the PSX of this transaction accordingly.