Biafo Industries Executive Director Inherits Shares

Karachi, Biafo Industries Limited announced that M. Afzal Khan, an Executive Director, inherited 275,594 shares on June 4, 2024. According to information available from the Pakistan Stock Exchange (PSX), the shares, valued at zero rate, are in physical form. This transaction will be reviewed in the upcoming board meeting to address any potential non-compliances with PSX Regulations, specifically clause No. 5.6.1.(d). Additionally, the company confirmed compliance with Section 105 of the Securities Act, 2015, stating that if the holding period of these shares is less than six months, any profit gained will be submitted to the Securities and Exchange Commission of Pakistan.