AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Faisal Spinning Mills Limited has officially reported a series of share transactions involving insiders of the company, as detailed in a disclosure form required under Section 96 and 131 of the Securities Act 2015, read in conjunction with SRO No.143 (1)/2012 dated December 5, 2012. According to information available from the Pakistan Stock Exchange (PSX), the transactions occurred off-market and involved physical share certificates designated as gifts.
The first transaction involved Mrs. Seema Shaheen, the spouse of a director at Faisal Spinning Mills, transferring a total of 176,582 shares to Mr. Mohammad Qasim, the son of the director’s spouse. The second transaction was conducted by Mr. Muhammad Amin, a director of the company, who gifted 52,312 shares to Mr. Mohammad Qasim, who is also his brother. Both transactions were recorded on May 27, 2024, and were not part of market operations.
These transactions are part of the company’s obligation to disclose material information involving insiders, ensuring transparency in its dealings with the PSX. The company, headquartered at Umer House in Karachi’s Korangi Industrial Area, has emphasized its commitment to compliance with applicable regulations to safeguard shareholder interests.