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Islamabad: An executive of Avanceon Limited, a prominent player in the technology sector, has completed a significant share transaction, shedding light on the financial activities of top management in publicly traded companies.
Mohammad Shahid Mir, a Director at Avanceon Limited, sold 38,670 shares on August 5, 2024, at a price of Rs. 64.05 per share. This transaction was promptly reported to the Pakistan Stock Exchange (PSX) and was recorded through the Central Depository Company (CDC).
According to information available from the Pakistan Stock Exchange (PSX), this sale is part of the regulatory compliance measures that require executives, directors, and significant shareholders to disclose their transactions. This ensures transparency and builds investor confidence, aligning with Clause 5.6.4 of the Code of Corporate Governance contained in the PSX Rule Book.
The disclosure was submitted on August 6, 2024, following the transaction, highlighting the company’s commitment to adhering to governance norms and maintaining a transparent relationship with its shareholders.
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