Pervez Ahmed Consultancy Services Reports Director-Level Stock Inheritances

Karachi: Pervez Ahmed Consultancy Services Ltd. has reported that several of its directors and an executive director have recently acquired shares through inheritance. The transactions, detailed below, were all executed on July 22, 2024, and involved substantial amounts of shares acquired at no cost.

Rehana Pervez Ahmed, a non-executive director, inherited 362,819 shares. Similarly, Ayesha Ahmed Mansoor, another non-executive director, received 362,818 shares. Ali Pervez Ahmed, serving as an executive director, inherited the largest share quantity at 725,637. All shares were acquired in the form of CDC certificates and will be held in Central Depository Company (CDC) accounts.

According to information available from the Pakistan Stock Exchange (PSX), the company has confirmed that these transactions will be discussed in the upcoming board meeting, where any non-compliance issues, if identified, will be addressed as mandated by clause No. 5.6.1(d) of PSX Regulations. Furthermore, Pervez Ahmed Consultancy Services assured that if the holding period for these transactions is under six months, any profits gained would be handled in accordance with Section 105 of the Securities Act, 2015, with the appropriate funds deposited with the Securities and Exchange Commission of Pakistan (SECP).

These disclosures come as part of the regulatory requirements to ensure transparency in transactions executed by directors, executives, or substantial shareholders of listed companies. The confirmation of these share acquisitions and their forthcoming presentation at the board meeting underscores the company’s adherence to regulatory norms and its commitment to corporate governance.