Bolan Castings Executive Reports Multiple Share Transactions

Karachi: A senior executive of Bolan Castings Limited engaged in multiple transactions involving the company’s shares, as disclosed in compliance with Pakistan Stock Exchange regulations. The series of sales, recorded on August 22, 2024, were detailed in a recent notification sent to the PSX.

Mujtaba Ahmed, a member of the senior management team, sold a total of 1,434 shares across seven distinct transactions. The share prices ranged from PKR 107.77 to PKR 110.05, all transacted through the Central Depository Company (CDC) in the ready market. Each transaction was executed under clause 5.6.1.(d) of PSX Regulations, which mandates immediate disclosure to ensure transparency and regulatory compliance.

According to information available from the Pakistan Stock Exchange (PSX), the company confirmed that these transactions would be reviewed at the subsequent board meeting. The disclosure also noted any non-compliance issues would be highlighted during this review. Further, Bolan Castings Limited affirmed that if the holding period for these transactions was less than six months, the profit from these sales would be submitted to the Securities and Exchange Commission of Pakistan (SECP). This is in accordance with Section 105 of the Securities Act, 2015, which requires profit from short-term trades by insiders to be returned to the company.

The company’s adherence to regulatory guidelines and its prompt reporting to the PSX underline its commitment to corporate governance and transparency.

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