Matco Foods Limited Director Gifts Shares

Karachi, A significant transaction involving shares of Matco Foods Limited was executed by Mr. Safwan Khalid Ghori, a director of the company. On May 30, 2024, Mr. Ghori gifted 150,000 shares through the Central Depository Company (CDC). According to information available from the Pakistan Stock Exchange (PSX), The details of the transaction indicate that no monetary exchange occurred as the shares were transferred as a gift.

The company has announced that this transaction will be reviewed at the upcoming board meeting, where any potential non-compliance issues will be addressed as stipulated by PSX Regulations, specifically clause No. 5.6.1.(d). Furthermore, the company confirmed that the holding period for the shares exceeded six months. In the event that the holding period had been less than six months, a cheque equivalent to the profit would have been required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), along with a notification to the PSX.