AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Feroze1888 Mills Limited has reported significant share transactions involving substantial shareholders, according to information disclosed under the Pakistan Stock Exchange (PSX) Regulation 5.6.1.(d). These transactions were executed on June 26, 2024, and involve Liberty Power Tech Ltd and Liberty Mills Limited.
Liberty Power Tech Ltd, a substantial shareholder, sold 2,550,000 shares of Feroze1888 Mills Limited at a rate of PKR 78.00 per share. On the same day, Liberty Mills Limited, also a substantial shareholder, bought an identical number of shares—2,550,000—at the same rate of PKR 78.00 per share. Both transactions were executed in the Central Depository Company (CDC) and categorized under the Negotiated Deal Market (NDM).
According to information available from the Pakistan Stock Exchange (PSX), these transactions will be presented at the subsequent board meeting of Feroze1888 Mills Limited. The board will review and highlight any non-compliance issues, as required under clause 5.6.1.(d) of PSX Regulations. The company confirmed that the holding period for these transactions exceeds six months. In cases where the holding period is less than six months, any profits made would be deposited with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015, with intimation to PSX.
The disclosure of these transactions is in line with regulatory requirements aimed at ensuring transparency and accountability in share dealings by directors, CEOs, executives, their spouses, and substantial shareholders of listed companies.