Karachi: In a recent disclosure from Sunrays Textile Mills Ltd., a significant transaction involving shares of the company was reported. According to the company's official communication, Mian Shahzad Ahmed, a director and substantial shareholder of Sunrays Textile Mills, executed a noteworthy share transaction.

The transaction, which was executed on April 18, 2025, involved the transfer of 500,170 shares as a gift. As per the details provided, the shares were transferred electronically through the Central Depository Company (CDC). This transaction has brought Mian Shahzad Ahmed's cumulative shareholding in the company to 2,445,613 shares, which accounts for 11.81% of the company's total shares.

According to information available from the Pakistan Stock Exchange (PSX), this transaction will be reviewed in an upcoming board meeting. The board will assess any non-compliance issues related to the transaction, as mandated by clause 5.6.4 of the PSX Regulations. The company has confirmed their adherence to the regulatory requirements, including the holding period for the transaction, which exceeds six months. Should any profit arise from transactions executed within a six-month period, it must be returned to the Securities and Exchange Commission of Pakistan (SECP) as stipulated by Section 105 of the Securities Act.

This disclosure falls under the designated market category of "Disclosure of Interest by a Director, CEO or Executive of a Listed Company and their spouses and the Substantial Shareholders u/c 5.6.4 of PSX Regulations," ensuring transparency and regulatory compliance in corporate governance practices within Sunrays Textile Mills Ltd.