AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The Pakistan Stock Exchange has documented recent transactions involving shares of Aruj Industries Limited by a substantial shareholder, as per the details submitted under the regulatory requirements.
On July 26, 2024, Mr. Maqsood Ahmad Butt, a significant shareholder of Aruj Industries, sold 11 shares at a price of 33.06 each through electronic form with the Central Depository Company (CDC). This transaction was followed by two more sales; on July 29, 2024, Mr. Butt sold 6,600 shares priced at 30.55 each and on July 30, 2024, he sold 21,335 shares at 27.53 each. All transactions were conducted electronically and in compliance with market regulations.
According to information available from the Pakistan Stock Exchange (PSX), the shares had been held for over six months, meeting the minimum holding period requirement stipulated by the Securities Act of 2015. In instances where sales are made within this six-month period, regulations mandate the submission of profit-equivalent cheques to the Securities and Exchange Commission of Pakistan (SECP), along with a notification to the PSX.
The PSX has requested that the information be relayed to the Investor Relations Equity Certificate holder to ensure all procedural necessities are strictly followed. This adherence to regulatory frameworks underscores the commitment of stakeholders to maintain transparency and compliance within the financial markets.