Unilever Pakistan Foods Reports Transaction Involving Non-Executive Director Kamal Monnoo

Karachi: A recent transaction involving shares of Unilever Pakistan Foods Limited has come under the spotlight. According to information available from the Pakistan Stock Exchange (PSX), Kamal Monnoo, a Non-Executive Director of the company, received a gift of 475 shares on April 9, 2024. The transaction was reported with a rate of 0.00, indicating no cost associated with the transfer.

The disclosure was made as per the PSX Regulations under clause 5.6.1.(d), which mandates the announcement of interest by directors, CEOs, executives, their spouses, and substantial shareholders. The form of share certificates mentioned in the disclosure is listed as CDC, but no specific market data was provided due to the nature of the transaction.

Further details revealed that this transaction will be reviewed in the upcoming board meeting of Unilever Pakistan Foods Limited. The board will examine any non-compliance issues related to the transaction and confirm their findings with the PSX. Additionally, it was confirmed that the holding period for these shares extends over six months. If it had been less than six months, the company noted that a cheque equivalent to the profit would be deposited with the Securities and Exchange Commission of Pakistan (SECP) as required under Section 105 of the Securities Act, 2015.

This action underscores the regulatory framework within which listed companies operate, ensuring transparency and adherence to legal requirements in all transactions involving shares.