Indus Dyeing Directors Receive Shares from Family in Accordance with PSX Rules

Karachi: Directors of Indus Dyeing and Manufacturing Company Limited, Mian Shahzad Ahmed and Mr. Irfan Ahmed, have acquired substantial shares through gift deeds, in accordance with the regulations of the Pakistan Stock Exchange (PSX). According to information available from the Pakistan Stock Exchange (PSX), the shares, totaling 1.85 million, were transferred on August 5, 2024.

The shares originated from Mian Muhammad Ahmed, the father of both recipients, solidifying family ties within the company’s leadership. Mian Shahzad Ahmed and Mr. Irfan Ahmed each received 925,000 shares through the Central Depository Company (CDC). The transfer was executed as a gift deed, which is a common practice for passing on equity within families while complying with the market regulations detailed in Sub Clause 5.6.1 of the PSX Rule Book.

This transaction underscores the familial governance dynamics at Indus Dyeing and Manufacturing, highlighting the involvement of family members in key roles. Such transfers are closely monitored under PSX guidelines to ensure transparency and fairness in the handling of share distributions within publicly traded companies.

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