AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Fast Cables Limited announced that Muhammad Javed Amin, a non-executive director, purchased 2,000 shares of the company on July 2, 2024. The transaction was carried out through the Central Depository Company (CDC) with the shares priced at $8.51 each.
According to information available from the Pakistan Stock Exchange (PSX), this purchase will be reviewed at the next board meeting. The review will include any non-compliance issues related to the transaction as mandated by clause No. 5.6.1.(d) of PSX Regulations. The company also confirmed adherence to the holding period requirement of over six months for the shares. If the holding period is less than six months, any profit from the transaction will be surrendered to the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015.
The details of the transaction, including the shareholder’s name, nature of the transaction, and number of shares, were formally disclosed to ensure transparency and compliance with regulatory requirements.