Altern Energy Executive Sells Shares, Details Reported to Pakistan Stock Exchange

Karachi, In compliance with Pakistan Stock Exchange (PSX) Regulation clause 5.6.1.(d), a significant financial transaction involving the sale of shares by a top executive at Altern Energy Limited has been disclosed.

Syed Arsalan Qutb, a General Manager at Altern Energy Limited, executed a sale of 1,500 shares on February 29, 2024. The shares were sold at a rate of 108.56 PKR per share, through the Central Depository Company (CDC) in the ready market.

The transaction will be reviewed at the upcoming board meeting of Altern Energy Limited. The company has confirmed that the sale will be scrutinized for any non-compliance issues as mandated by PSX regulations. Additionally, the company assured that if the holding period of the shares was less than six months, the profit from this transaction would be deposited with the Securities and Exchange Commission of Pakistan (SECP) as per Section 105 of the Securities Act, 2015.