Karachi: A substantial shareholder of First National Equities Limited, Mr. Ali A. Malik, has disclosed significant transactions involving the gifting of shares under the regulatory framework of the Pakistan Stock Exchange (PSX). Dated December 17, 2025, the disclosure was made in compliance with PSX Regulation 5.6.9, which mandates the reporting of share transactions by directors, executives, and substantial shareholders, including their spouses and minors.
The transactions executed by Mr. Malik were conducted through the Central Depository Company (CDC). On December 11, 2025, Mr. Malik gifted 1,450,000 shares, reducing his cumulative shareholding to 30.97 million shares, representing 11.59% of the company's total shares. Subsequently, on December 17, 2025, he executed another gift transaction involving 5,000,000 shares, bringing his cumulative holding down to 25.97 million shares, which accounts for 9.71% of the company's total shareholding.
According to information available from the Pakistan Stock Exchange (PSX), the transactions were carried out at a zero rate, indicating that the shares were transferred without financial consideration as gifts. This movement of shares by a substantial shareholder is classified as a very large or significant move in the shareholder's percentage due to the notable reduction in Mr. Malik's stake in the company.
In accordance with PSX regulations, these transactions will be presented by the Company Secretary at the forthcoming Board of Directors meeting. The minutes of this meeting will be submitted through Form-30 of the Correspondence Manual via PUCARS. Furthermore, it is imperative that the holding period for these transactions exceeds six months; otherwise, any profit must be deposited with the Securities and Exchange Commission of Pakistan (SECP) as required under Section 105 of the Securities Act, 2015.
The company has been instructed to update its records in the Unique Identification Number (UIN) Management System promptly. Additionally, the Securities Act prohibits any director, CEO, or executive from dealing in the company's shares during a closed period, ensuring transparency and adherence to regulatory standards.