Executive Director Buys Shares in Premier Sugar Mills, Ensuring Compliance with PSX Regulations

Karachi, An executive director of Premier Sugar Mills & Distillery Company Limited executed a significant share purchase transaction on June 25, 2024. Abbas Sarfaraz Khan, the Executive Director, bought 10,947 shares at a rate of 350 PKR per share in a physical certificate form.

According to information available from the Pakistan Stock Exchange (PSX), The transaction has been duly reported to the PSX and will be reviewed in the upcoming board meeting to ensure all compliance requirements under the PSX Regulations, specifically clause No. 5.6.1(d), are met. This clause mandates that any non-compliances identified need to be highlighted and addressed during the board meeting.

Furthermore, the company confirmed that the holding period for the shares exceeds six months. Should this period have been less than six months, the company would be required to deposit a cheque equivalent to the profit earned from this transaction with the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015. This measure ensures transparency and adherence to the regulatory frameworks governing financial transactions and insider trading within the country’s stock exchange.