National Foods Limited Announces Share Purchase by Associated Company

Karachi: National Foods Limited disclosed a significant transaction by its associated company, EPICURE DMCC, on August 19, 2024.

According to information available from the Pakistan Stock Exchange (PSX), EPICURE DMCC purchased 20,515 shares of National Foods Limited at a rate of PKR 200.00 per share through the Central Depository Company (CDC) system. This transaction forms part of the regulatory disclosures under section 5.6.4 of PSX Regulations, which mandate the reporting of transactions involving associated companies.

The disclosure further confirmed that the details of this transaction would be reviewed in the upcoming board meeting, with a focus on addressing any non-compliance issues that may arise. National Foods Limited has also ensured compliance with the holding period regulations, stating that if the holding period for these transactions is less than six months, profits from the transaction will be deposited with the Securities and Exchange Commission of Pakistan (SECP) in accordance with section 105 of the Securities Act, 2015.

This development reflects the ongoing transparency and regulatory adherence by National Foods Limited in its corporate governance practices.

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