Sindh Abadgar’s Sugar Mills Limited Director Increases Stake to Over 8%

Karachi: Sindh Abadgar’s Sugar Mills Limited has announced a significant share acquisition by Pehlaj Rai, a Non-Executive Director of the company. According to information available from the Pakistan Stock Exchange (PSX), these transactions have increased Rai’s total shareholding to 853,265 shares, representing 8.18% of the company, as of August 7, 2024.

The transactions, executed between July 24, 2024, and August 7, 2024, comprised purchases of company shares at varying prices. On July 24, Rai purchased 23,272 shares. This was followed by additional acquisitions of 6,777 shares at a rate of 34.31 on July 25, 1,993 shares for 36.50 on July 29, and 3,323 shares at 36.01 on August 7.

The details of these transactions will be presented at the upcoming board meeting, fulfilling the compliance requirements under clause No. 5.6.1(d) of PSX regulations. Furthermore, the company confirmed that the holding period for these transactions exceeds six months. Consequently, any profits derived from these transactions will be remitted to the Securities and Exchange Commission of Pakistan (SECP), as mandated by section 105 of the Securities Act, 2015, with proper notification to the PSX.

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