Ibrahim Holdings Executes Substantial Share Purchase in Ibrahim Fibres Limited

KARACHI: On July 29, 2024, Ibrahim Holdings (Pvt.) Ltd., a major shareholder and sponsor of Ibrahim Fibres Limited, conducted a significant transaction by purchasing 3,750 shares at a rate of Rs 350.00 per share through the Central Depository Company (CDC) on the Ready Market.

This transaction will be reviewed in the upcoming board meeting of Ibrahim Fibres Limited. The review will include discussions on compliance with clause No. 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations, which governs disclosures of interest by directors, CEOs, executives, their spouses, and substantial shareholders.

According to information available from the Pakistan Stock Exchange (PSX), the compliance details will be thoroughly examined to ensure transparency and adherence to the legal requirements. If the shares were held for less than six months, any profit from the transaction must be surrendered. Specifically, a cheque equivalent to the profit would be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015, with a formal notification to the PSX.

The proactive disclosure and confirmation of the transaction details to the PSX underscore the commitment to maintaining robust compliance practices within the corporate governance framework of the listed companies.