Nitin Spinners Limited — Important, 22-02-2025: Updates

Mr. Sandeep Kumar, the President of Operations at Nitin Spinners Limited, executed a contra-trade involving 450 shares bought and 4,000 shares sold recently, breaching the company's Code of Conduct. The company has noted that Mr. Kumar held 5,550 shares prior to the recent transactions and confirmed he was not in possession of any Unpublished Price Sensitive Information (UPSI) during this trade. The contra-trade was done after the trading window opened and this is his first violation. As a consequence, the company has issued a warning and imposed a penalty of Rs. 10,000 for this breach, emphasizing the need to adhere to compliance in future trades. This incident highlights the importance of strict adherence to insider trading regulations and the potential repercussions for employees breaching such codes. Shareholders should monitor how this situation may influence company credibility and compliance culture going forward.