Pakistan Cables Director Gifts Shares to Family Members

Karachi, In a recent disclosure compliant with clause 5.6.4. of the Pakistan Stock Exchange (PSX) Regulations, Pakistan Cables Limited has reported substantial transactions by Mr. Kamal Chinoy, a Director of the company. According to information available from the Pakistan Stock Exchange (PSX), Mr. Chinoy gifted a significant number of shares to his immediate family. On May 16, 2024, he transferred 883,084 shares to his wife, Mrs. Pia Kamal Chinoy, and similar transactions were carried out for his son, Mr. Zain Kamal Chinoy, receiving 596,456 shares, and his daughter, Ms. Maira Kamal Chinoy, who received 620,854 shares. All transactions were executed at a rate of 0.00 PKR and registered through the Central Depository Company (CDC).

The company has confirmed that these transactions will be reviewed at the subsequent board meeting, where any non-compliance issues will be addressed as per the regulatory requirements.