International Steels Director Executes Major Share Transaction

Karachi: In a significant move within the Pakistan Stock Exchange, a key figure at International Steels Limited has engaged in a notable share transaction, according to disclosures mandated under PSX regulation 5.6.4. The transaction involved the distribution of a substantial number of shares as gifts by an executive director of the company.

The transaction took place on September 20, 2024, as Samir M. Chinoy, an Executive Director at International Steels, transferred 4,500,000 shares at no cost. These shares, handled through the Central Depository Company (CDC) in the ready market, represent a movement designed not to alter his cumulative shareholding in the company. Following this transaction, Chinoy’s total held shares stand at 100,000, reflecting a minor 0.02 percent of the company’s total shares.

According to information available from the Pakistan Stock Exchange (PSX), this type of transaction is critical for maintaining transparency and regulatory compliance, illustrating the ongoing obligations of corporate executives to disclose their trading activities.

This disclosure highlights the adherence to strict market regulations designed to ensure that all major transactions involving company insiders are fully transparent to other shareholders and the regulatory bodies. Such openness is intended to maintain fairness and trust in the financial markets, particularly concerning potential conflicts of interest or insider trading implications.

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