KARACHI: The Shirazi family has transferred its 23 per cent shareholding in Honda Atlas Cars (Pakistan) Ltd to Shirazi Capital (Pvt) Ltd, KSE notification says on Monday.
“The move behind transfer of shares is to institutionalise the shareholding of individuals of Shirazi family into Atlas Group of Companies,” said an official of Shirazi Capital. According to a notification sent to KSE by the Shirazi Capital (Pvt) Ltd, the family has transferred its 22.77 percent (or 32,517,000 shares) holding in Honda Atlas Cars (Pakistan) Limited (HACPL) to Shirazi Capital (Pvt) Ltd (SCL). SCL is a private limited company wholly owned and managed by the Shirazi family as directors or CEO, notification added.
The share of Honda Atlas Cars closed at Rs17.07 at Karachi Stocks Exchange (KSE) on Friday, March 27, 2010. Yusuf H Shirazi, was holding 0.53 percent (or 765,000 shares) in Honda Atlas Cars while Iftikhar H Shirazi, Aamir H Shirazi, Saquib H Shirazi and Ali H Shirazi each were holding 5.56 per cent (or 7,938,000 shares) in Honda Atlas Cars. “It is to submit that Yusuf H Shirazi and Aamir H Shirazi, directors of Shirazi Capital (Pvt) Limited are also directors of Honda Atlas Cars (Pakistan) Limited,” the notification said.
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