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Lahore: Allied Bank has announced a rescheduling of its Board of Directors meeting initially set for July 02, 2024. The new date for the meeting, which will focus on non-financial matters, is now slated for July 10, 2024.
The meeting was originally scheduled to be held in Lahore to deliberate on various topics excluding financial statements and results. However, the need for rescheduling was not specified by the bank’s administration.
In accordance with the Pakistan Stock Exchange (PSX) regulations, specifically Clause 5.6.4, Allied Bank has also declared a “Closed Period” from July 03, 2024, to July 10, 2024. During this period, directors, the CEO, and executives are prohibited from dealing in the bank’s shares, either directly or indirectly. According to information available from the Pakistan Stock Exchange (PSX), this measure is taken to prevent any insider trading or conflicts of interest during times when sensitive information could influence stock prices.
The bank has issued instructions to the Certificate Holders of the Exchange to ensure compliance with these regulations during the Closed Period.