Big Bird Foods Limited Reports Regulatory Compliance by Director

Islamabad: Big Bird Foods Limited announced today that Muhammad Tabassum Munir, an independent director of the company, has purchased shares in compliance with Pakistan Stock Exchange (PSX) regulations. The transaction was made public as part of the mandatory disclosure required for directors and significant shareholders.

According to information available from the Pakistan Stock Exchange (PSX), the transaction involved the purchase of one share at a rate of 54.45, processed through the Central Depository Company (CDC) in the ‘Ready’ market category on August 7, 2024. This action forms part of the regulatory framework under clause No. 5.6.1.(d) of PSX Regulations, aimed at ensuring transparency and accountability by key insiders of the listed companies.

Big Bird Foods has confirmed that this transaction will be reviewed in the upcoming board meeting. The review will include an examination of any potential non-compliance issues related to the transaction. Furthermore, the company has assured compliance with the holding period stipulations set forth in the Securities Act of 2015. In the event that the holding period for these transactions is less than six months, Big Bird Foods will deposit any resultant profit with the Securities and Exchange Commission of Pakistan (SECP), as mandated.

This disclosure reinforces Big Bird Foods Limited’s commitment to adhering to stringent regulatory requirements, ensuring that all transactions are conducted transparently and are in full compliance with governing laws.

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