AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Sanghar: Sanghar Sugar Mills Limited has announced a significant transaction involving its Chief Executive Officer, Mr. Ghulam Hyder. On July 4, 2024, Mr. Hyder purchased 20,900 shares of the company at a rate of PKR 24.00 each, through the Central Depository Company (CDC).
The transaction was part of a routine disclosure of interest by directors, CEOs, or executives of listed companies and their spouses, along with substantial shareholders under clause 5.6.1.(d) of Pakistan Stock Exchange (PSX) regulations. According to information available from the Pakistan Stock Exchange (PSX), the company confirmed that this transaction will be reviewed in the upcoming Board Meeting. This review will include any non-compliance issues that need to be addressed as per the regulatory requirements.
Furthermore, the company clarified that the holding period for these transactions is over six months. However, if it were within six months, the profit would be calculated, and a cheque for the amount would be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015.
This disclosure ensures transparency and adherence to the regulatory framework set forth for transactions of this nature, safeguarding the interests of shareholders and maintaining the integrity of the financial market.