AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Avanceon Limited, a publicly traded company on the Pakistan Stock Exchange (PSE), has reported a significant transaction involving its Chief Financial Officer, Ahsan Khalil. As mandated under the PSX regulations, the company disclosed that Mr. Khalil sold 25,000 shares at a price of 51.66 PKR per share. The transaction was conducted on March 26, 2024, and reported to the exchange on April 15, 2024.
This financial activity falls under the scrutiny of clause 5.6.4 of the Code of Corporate Governance contained in the PSX Rule book, which requires timely disclosure of any substantial trading of shares by top executives and significant shareholders. The sale was executed through the Central Depository Company (CDC), ensuring compliance with the regulatory framework designed to maintain transparency in the financial dealings of corporate executives.