Karachi: Tariq Hameed has expanded his investment in Service Industries Textiles Limited by acquiring additional shares. According to a disclosure under section 109(2) of the Securities Act, 2015, Hameed acquired 480,834 shares, equivalent to 3.48% of the company, on September 9, 2025. The shares were acquired through a gift transaction, which does not invoke part IX of the Act, except for reporting requirements.

Prior to this acquisition, Hameed held 949,493 shares, representing a 6.87% stake in the company. With the latest addition, his total shareholding has increased to 1,430,327 shares, accounting for 10.37% of the total issued voting shares of Service Industries Textiles Limited. This constitutes a very large or significant move in terms of percentage change in shareholding.

The transaction and details of the acquisition have been communicated to the relevant authorities, including the Manager Director of the Pakistan Stock Exchange, the Chief Executive of Service Industries Textiles Limited, and the Securities and Exchange Commission of Pakistan.

According to information available from the Pakistan Stock Exchange (PSX), the exemption from transaction reporting is applicable due to the nature of the acquisition as a gift, which aligns with section 109(1)(d) of the Securities Act, 2015.

The acquisition by Hameed did not involve any company or fund, as he acted in his individual capacity. There are no additional individuals or entities reported to be acting in concert with him in this acquisition.