Mirpurkhas Sugar Mills Directors and Shareholders Subscribe to Rights Issue

Karachi, Directors and a substantial shareholder of Mirpurkhas Sugar Mills Limited have subscribed to right shares as part of a rights issue, the details of which were disclosed by the company. According to information available from the Pakistan Stock Exchange (PSX), the rights shares were announced by the board of directors in a meeting held on January 26, 2024.

The chief executive of Mirpurkhas Sugar Mills, Mr. Aslam Faruque, acquired 122,932 shares at a rate of Rs. 25 per share. Similarly, Mr. Amer Faruque, a director at the company, subscribed to 12,933 shares, and Mr. Wasif Khalid, another director, obtained 14,811 shares at the same rate. Mr. Hasan Reza Ur Rahim, also a director, subscribed to a single share.

Faruque (Private) Limited, listed as a substantial shareholder, subscribed to 8,328,917 shares, significantly increasing its stake in the company. All shares acquired in this transaction are in the Central Depository Company (CDC) form, which facilitates electronic record-keeping of share transactions.