Director and Substantial Shareholder of IGI Holdings Limited Engage in Intra-Family Share Transfer

Karachi, In a recent development, IGI Holdings Limited, a listed company, witnessed a significant transaction involving the director and substantial shareholders. Syed Babar Ali, a non-executive director of the company, executed a gift out transaction, while Syed Hyder Ali, another non-executive director, engaged in a gift in transaction, as disclosed by the company.

On June 1, 2023, Syed Babar Ali, the non-executive director of IGI Holdings Limited, carried out a gift out transaction, involving a substantial number of shares. A total of 11,592,221 shares were transferred by Syed Babar Ali, with a recorded value of 0.00. The form of share certificates for this transaction was CDC (Central Depository Company), and further details regarding the market are currently not available.

Simultaneously, on the same day, Syed Hyder Ali, another non-executive director of IGI Holdings Limited, participated in a gift in transaction. Syed Hyder Ali received a transfer of 11,592,221 shares from an undisclosed party. The transaction was also conducted at a value of 0.00, with the form of share certificates being CDC. The specific market details regarding this transaction are not currently available.