Unity Foods Executive Sells Shares Amid Regulatory Compliance

Karachi: Unity Foods Limited has announced a recent share transaction by Amir Shehzad, an Executive Director, who sold 7,000 shares on July 11, 2024. The shares were sold at a rate of Rs. 34.87 each through the Central Depository Company (CDC) on the ready market.

According to information available from the Pakistan Stock Exchange (PSX), this transaction is set to be reviewed in the forthcoming board meeting of Unity Foods. The meeting will assess the transaction in line with clause No. 5.6.1.(d) of PSX Regulations, particularly to identify and address any potential non-compliances associated with the sale.

The company has confirmed that the holding period for the shares sold by Shehzad exceeded six months. In scenarios where shares are sold within six months, Unity Foods assures that profits are managed in compliance with Section 105 of the Securities Act, 2015. Specifically, profits are remitted to the Securities and Exchange Commission of Pakistan (SECP) via cheque under the necessary notifications to PSX.

This proactive disclosure aligns with regulatory requirements intended to maintain transparency and protect investor interests within the financial market.

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