Hi-Tech Lubricants Limited Announces Significant Share Transfers

Karachi: Hi-Tech Lubricants Limited has disclosed substantial transactions involving the transfer of shares held by key executives and substantial shareholders, according to an official notice filed with the Pakistan Stock Exchange on October 18, 2024. These transfers are noted as inheritance shares and include substantial figures affecting the company’s overall share distribution.

The major shareholders affected in these transactions are Arifa Shaukat, a substantial shareholder, and Muhammad Ali Hassan, an executive director, along with other family members and executives. According to information available from the Pakistan Stock Exchange (PSX), the following details were specified in the disclosure:

Arifa Shaukat reported an inheritance of approximately 279.86 million shares, altering her cumulative stake to 0.24% in the company. Shaukat Hassan, a non-executive director, inherited around 699.86 million shares, raising his total holdings to 5.28%. Moreover, Muhammad Ali Hassan acquired about 838.76 million shares through inheritance, marking his cumulative shareholding at 12.49%.

Also noted were transactions for Amina Zaidi, spouse of another director, and Eshal Hassan and Nawal Hassan, minors with guardianships under Shaukat Hassan. Each recorded a similar transfer of 419.38 million shares, equating to 5.84% of total shares held.

These transactions are significant in the context of the company’s ongoing corporate governance and shareholding structure, reflecting a notable shift in the ownership pattern following these inheritances.

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