AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In a recent regulatory filing to the Pakistan Stock Exchange (PSE), National Foods has disclosed a significant transaction conducted by one of its Directors. The company provided details about the share acquisition made by the Director, aimed at complying with the PSX Regulations, particularly under section 5.6.4.
According to the disclosure, Zahid Majeed, a Director at National Foods, bought 25,000 shares of the company on March 5, 2024. The shares were purchased at a rate of 159.74 Pakistani Rupees per share, and the transaction was conducted through the Central Depository Company (CDC) in the ready market.
National Foods has confirmed that this transaction will be reviewed in the upcoming board meeting, including any potential non-compliance issues. The company also affirmed that the holding period for these shares is over six months. However, if it had been within six months, it would have required the deposit of any profit made from the transaction to the Securities and Exchange Commission of Pakistan (SECP), in accordance with section 105 of the Securities Act, 2015, along with a notification to the PSX.