Faran Sugar Mills Limited Reports Insider Transactions

Karachi: Faran Sugar Mills Limited has announced a series of insider transactions involving shares of the company by directors and significant shareholders, as per the regulatory disclosure requirements.

On July 19, 2024, Muhammad Omar Bawany, a non-executive director of Faran Sugar Mills, gifted 19,481 shares, and on July 19, 2024, Ahmed Ali Bawany, an executive director, also gifted 19,481 shares. Both transactions were executed at a rate of zero rupees and facilitated through the Central Depository Company (CDC). Additionally, on July 18, 2024, Ahmed Ali Bawany purchased 6,800 shares of the company at a rate of Rs. 50.24 per share, also through the CDC in the ready market.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of the disclosures under clause No. 5.6.1(d) of PSX Regulations. These will be reviewed at the subsequent board meeting, where any non-compliance issues will be addressed. The company confirmed that all transactions either have a holding period of over six months or, if within six months, the profits will be reconciled with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015.