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Lahore, Stylers International Limited disclosed significant shareholder changes following the death of Mrs. Shama Javed, wife of Mr. Javed Arshad Bhatti, the Chairman and a Director of the company. A Succession Certificate issued on March 27, 2024, by the District Court, confirmed the transfer of Mrs. Javed’s shares, totaling 155,218,230, to her legal heirs. The transactions occurred on April 22, 2024, involving the transfer of shares to Mr. Javed Arshad Bhatti and three other family members, without any exchange of money.
Mr. Javed Arshad Bhatti received 38,804,558 shares, while Mr. Muhammad Saqib, Mr. Muhammad Siddique Bhatti, and Mr. Sohaib Javed each acquired 33,261,049 shares. Mrs. Ayesha Haroon was allotted 16,630,525 shares. All shares were transferred in physical form.
The company has announced that these transactions will be reviewed in the upcoming board meeting to address any non-compliance issues as mandated by the PSX Regulations, ensuring full transparency and regulatory adherence.