Masood Fabrics Ltd Engages in Substantial Share Transactions, PSX Notification Confirms

Karachi: Two significant share transactions by Masood Fabrics Ltd, a substantial shareholder of Shakarganj Limited, have been officially disclosed in accordance with Pakistan Stock Exchange regulations. The dealings, executed on August 9 and August 12, 2024, involved the sale of substantial share quantities at a consistent rate, with each transaction being meticulously documented and set to be reviewed in an upcoming board meeting.

According to information available from the Pakistan Stock Exchange (PSX), Masood Fabrics Ltd sold 1,000,000 shares on August 9 and 1,500,000 shares on August 12, each at a price of PKR 50.00 per share. These sales were made through the Central Depository Company (CDC), reflecting a transparent and regulated process under the exchange’s stringent guidelines.

Furthermore, Shakarganj Limited confirmed that these transactions would be presented during the subsequent board meeting, highlighting any potential non-compliance issues as mandated by clause No. 5.6.1(d) of PSX Regulations. The company has also verified that the holding period for the shares was over six months, ensuring compliance with Section 105 of the Securities Act, 2015. In instances where the holding period falls below six months, the company is prepared to deposit the equivalent profit amount with the Securities and Exchange Commission of Pakistan (SECP), further affirming their adherence to legal and ethical standards.

This proactive disclosure by Shakarganj Limited not only reinforces the company’s commitment to regulatory compliance but also ensures that all market participants are informed of significant internal transactions that could influence market dynamics.

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