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Karachi: Fast Cables Limited has announced a significant share purchase by Saima Mian, the spouse of an executive director, in compliance with the Pakistan Stock Exchange regulations.
The transaction involved Saima Mian acquiring 8,250 shares at a rate of Rs. 241,000 per share on June 28, 2024. These shares were purchased in the ‘Ready’ market and registered under the CDC form of share certificates.
According to information available from the Pakistan Stock Exchange (PSX), this transaction will be reviewed in the upcoming board meeting of Fast Cables Limited. The review will include an examination of any non-compliance issues as stipulated under clause No. 5.6.1.(d) of PSX Regulations. The company has confirmed that all regulatory requirements have been met, including the holding period for the shares. If the holding period is found to be less than six months, any profit realized from the transaction will be returned to the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015.
Fast Cables Limited has ensured full compliance with disclosure and regulatory norms and has committed to addressing any potential issues during the forthcoming board deliberations.