Fast Cables Executive’s Spouse Completes Share Purchase Amid Regulatory Compliance

Karachi: A recent transaction involving the purchase of shares by the spouse of a Fast Cables Limited executive underscores ongoing regulatory compliance within the company.

On August 16, 2024, Saima Mian, spouse of an executive director at Fast Cables Limited, acquired 25,000 shares at a rate of PKR 23.25 each through the Central Depository Company (CDC) under the ‘Ready’ market category. According to information available from the Pakistan Stock Exchange (PSX), this transaction aligns with regulatory requirements specified under clause 5.6.1.(d) of PSX Regulations.

The company has confirmed that this transaction will be reviewed in the upcoming board meeting, with any potential non-compliance issues to be addressed as mandated by the PSX regulations. Fast Cables Limited also confirmed that the holding period for the transaction extends over six months. If the holding period were less than six months, the profit from this transaction would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015.

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