Unity Foods Director Transfers 11.5 Million Shares as Gift

Karachi, Unity Foods has announced a significant share transaction involving a non-executive director, According to information available from the Pakistan Stock Exchange (PSX), Abdul Majeed Ghaziani, a non-executive director at Unity Foods, gifted out 11,500,000 shares on May 30, 2024. The shares, which were transferred through the Central Depository Company (CDC), were gifted at a rate of 0.00, indicating no monetary exchange.

The transaction will be presented at the upcoming board meeting, where any non-compliance issues, if present, will be discussed as stipulated under clause No. 5.6.1.(d) of PSX Regulations. Unity Foods has confirmed that the holding period for these transactions exceeded six months. In compliance with Section 105 of the Securities Act, 2015, any profits derived from shares held for less than six months must be surrendered to the Securities and Exchange Commission of Pakistan (SECP), which Unity Foods has adhered to.