Aruj Industries Shareholder Sells Significant Shares

Karachi: Maqsood Ahmad Butt, a significant shareholder of Aruj Industries Limited, has sold a substantial number of shares, according to recent disclosures made to the Pakistan Stock Exchange (PSX). The transactions, which occurred on September 13 and September 16, 2024, involved the sale of 83,324 and 198,885 shares, respectively.

According to information available from the Pakistan Stock Exchange (PSX), the sales were conducted electronically through the Central Depository Company (CDC). The prices at which the shares were sold were Rs. 11.92 and Rs. 10.41 per share for the respective transactions.

The disclosure aligns with PSX Regulation No. 5.6.1 (d), which mandates that significant shareholders and connected parties of listed companies must transparently declare their trading activities. This regulation ensures that all market participants have access to the same information, thereby maintaining market integrity and transparency.

Furthermore, the company confirmed that the holding period for these shares exceeded six months, which complies with the stipulations under section 105 of the Securities Act, 2015. Profits from these transactions are to be handled in accordance with the statutory requirements, including the potential deposition of the equivalent amounts with the Securities and Exchange Commission of Pakistan (SECP).

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