National Foods Sees Significant Share Purchase by Major Shareholder ATC Holdings

Karachi: National Foods Limited has reported a substantial share acquisition by its major shareholder, ATC Holdings (Private) Limited, on August 27, 2024. The transaction involved the purchase of 1,000,000 shares at a rate of 200 Rupees per share, conducted through the CDC (Central Depository Company) under the Non-Deliverable Market (NDM) category.

According to information available from the Pakistan Stock Exchange (PSX), this significant transaction will be subject to review at the upcoming board meeting of National Foods Limited. The board will assess any potential non-compliance issues related to PSX Regulations, specifically under clause No. 5.6.4, which governs the disclosure of interests by directors, CEOs, or executives of listed companies and their spouses.

The company further confirms that the holding period for the transaction exceeds six months. Should it have been within six months, regulations stipulate that any profit derived from such a transaction would necessitate the submission of a cheque equivalent to the profit amount to the Securities and Exchange Commission of Pakistan (SECP), as mandated under section 105 of the Securities Act, 2015.

This transaction is poised to be thoroughly discussed for adherence to regulatory requirements and its implications on shareholder interests at the subsequent board meeting.

The post National Foods Sees Significant Share Purchase by Major Shareholder ATC Holdings appeared first on .