National Foods Limited Sees Shares Purchased by Director Zahid Majeed

Karachi: In a recent transaction disclosed by the Pakistan Stock Exchange (PSX), Mr. Zahid Majeed, a Non-Executive Director at National Foods Limited, purchased 6,070 shares of the company. The shares were bought on July 1, 2024, at a rate of PKR 173.00 per share.

This transaction involved shares from the Central Depository Company (CDC) and was executed in the ready market. According to information available from the Pakistan Stock Exchange (PSX), the transaction is set to be presented at the upcoming board meeting. This will include a review of the compliance with PSX Regulation clause No. 5.6.1.(d), which mandates such disclosures and checks for any non-compliance issues.

Furthermore, the transaction will be scrutinized for compliance with the holding period requirements. As stipulated by Section 105 of the Securities Act, 2015, if the holding period for these transactions is less than six months, a cheque equivalent to the profit will be deposited with the Securities and Exchange Commission of Pakistan (SECP), under the intimation of PSX.