National Foods Limited Announces Major Shareholder Transaction

Karachi: National Foods Limited disclosed a substantial transaction involving its major shareholder, as per regulatory requirements, executed on August 23, 2024. The transaction involved the sale of a significant number of shares by ATC Holdings (Private) Limited, a major shareholder in the company.

The transaction details reveal that ATC Holdings sold 849,000 shares at a rate of 200.00 Rupees per share. The shares were sold in the form of Central Depository Company (CDC) certificates, classified under the Non-Delivery Market (NDM) category. This disclosure follows the compliance guidelines outlined under section 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations.

According to information available from the Pakistan Stock Exchange (PSX), this substantial transaction is set to be reviewed in the upcoming board meeting of National Foods Limited. The board will assess any potential non-compliance issues related to the transaction. The company has confirmed that if the holding period of the shares was under six months, any profit gained from the transaction would be returned to the Securities and Exchange Commission of Pakistan (SECP), as mandated by section 105 of the Securities Act, 2015, with appropriate notifications to PSX.

This regulatory filing ensures transparency and adherence to market rules, reflecting the rigorous standards of corporate governance required of publicly listed companies in Pakistan.

The post National Foods Limited Announces Major Shareholder Transaction appeared first on .