Pakistan Synthetics Executives Engage in Extensive Share Transactions

Karachi: Top executives at Pakistan Synthetics Limited have actively participated in the company’s share transactions, as disclosed under the compliance requirements of clause 5.6.1 of the PSX Rule Book. These transactions involve significant share acquisitions by both the Chief Executive Officer, Mr. Yakoob Karim, and a Director, Mr. Noman Yakoob, in early July 2024.

According to information available from the Pakistan Stock Exchange (PSX), Mr. Yakoob Karim purchased a substantial 3,013,379 shares at a rate of Rs. 24.35 per share on July 3, 2024. Concurrently, Mr. Noman Yakoob engaged in multiple transactions totaling 13,263 shares across various price points ranging from Rs. 21.90 to Rs. 23.61 on July 2, 2024. All transactions were executed in the ready market and documented as electronic (CDC).

The extensive trading activity by these executives, particularly in such high volumes, reflects significant internal confidence in the company’s prospects. Each of these transactions will be reviewed in the subsequent board meeting, where any potential non-compliances highlighted under the same clause of the PSX Regulations will be addressed.

This transparency in disclosing transactions is part of the company’s commitment to governance and regulatory compliance, aiming to maintain the trust and security of its shareholders and the broader market.