AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Altern Energy Limited announced that Mr. Shah Muhammad Ch., a non-executive director, sold shares of the company through transactions executed on May 23, 2024. According to information available from the Pakistan Stock Exchange (PSX), Mr. Shah Muhammad Ch. sold a total of 155,000 shares in two separate transactions. The first transaction involved the sale of 115,000 shares at a rate of PKR 25.81 each, while the second transaction comprised 40,000 shares sold at PKR 26.38 each. Both sales were conducted via the Central Depository Company (CDC).
The company confirmed that these transactions would be presented at the subsequent board meeting, highlighting any non-compliance with PSX Regulations, particularly clause No. 5.6.1.(d). It was also confirmed that the holding period for the transactions exceeded six months. Should any transaction have been within this period, the profit’s equivalent in cheque would be deposited with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015, with notification to PSX.