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Karachi, Mr. Arif Dino Faruque, a director at Cherat Cement Company Limited, has executed a significant transaction involving the sale of company shares, according to information available from the Pakistan Stock Exchange (PSX). The disclosure comes as part of the regulatory compliance under clause 5.6.4 of PSX Regulations.
On June 20, 2024, Mr. Faruque sold 30,000 shares of Cherat Cement at a rate of 167.00 per share in certificate form through the Central Depository Company (CDC).
The transaction, which meets the mandatory holding period of over six months, will be reviewed in the upcoming board meeting. During this review, any potential non-compliance issues will be highlighted for the board’s consideration as required by the relevant PSX regulations.
In adherence to the Securities Act, 2015, if the transaction were to fall within a holding period of less than six months, any profit derived would be deposited with the Securities and Exchange Commission of Pakistan (SECP), with an intimation to the PSX.
The disclosure is part of ongoing efforts to ensure transparency and regulatory compliance in the trading activities of company directors and substantial shareholders.