AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, purchased 7,355 shares on June 24, 2024. The transaction, conducted in the ready market, involved shares priced at PKR 400 each, facilitated through CDC share certificates.
The executed transaction by Ibrahim Holdings will be reviewed in the upcoming board meeting of Ibrahim Fibres Limited. The review will focus on any potential non-compliance issues with the PSX Regulations, particularly clause No. 5.6.4, which mandates such disclosures. According to information available from the Pakistan Stock Exchange (PSX), the details of the transaction will also be confirmed to the exchange as per the regulatory requirements.
Additionally, the company confirmed that the holding period for these transactions exceeds six months. In scenarios where the holding period is less than six months, profits are required to be submitted to the Securities and Exchange Commission of Pakistan (SECP) in the form of a cheque, as stated under Section 105 of the Securities Act, 2015, with due intimation to PSX.