Voting Power of PABC Director Zain Ashraf Mukaty Increases

Karachi, Pakistan Aluminium Beverage Cans Limited (PABC) has announced an increase in the voting power of Mr. Zain Ashraf Mukaty, a director and substantial shareholder of the company. According to the latest update provided on June 20, 2024, Mr. Mukaty’s voting power has been indirectly increased by 707,639 shares.

According to information available from the Pakistan Stock Exchange (PSX), Mr. Mukaty’s total direct shareholding in PABC stands at 75,813,113 shares, representing 20.9946% of the voting power. With the additional indirect shares, his total voting power now amounts to 76,520,752 shares or 21.1905% of the company. This change underscores a significant enhancement in Mr. Mukaty’s influence within the company, marking an increase in his indirect voting power by 0.1960%.

This adjustment in shareholding and voting power could impact the governance and strategic direction of PABC, as Mr. Mukaty’s augmented stake strengthens his position and potentially his sway over company decisions. The increase in shares was registered and took effect on June 20, 2024, aligning with the company’s commitment to transparency in shareholder communications.