Cherat Cement Director Sells Shares: PSX Regulation Compliance Disclosed

Karachi: Cherat Cement Company Limited announced today that its director, Mr. Arif Dino Faruque, has executed a sale of 30,000 shares. According to information available from the Pakistan Stock Exchange (PSX), the transaction, which occurred on September 13, 2024, involved shares sold at a rate of 175.00 per share through the CDC certificate form.

The company confirmed that this transaction would be addressed in the upcoming board meeting, highlighting any non-compliance issues as mandated by PSX Regulation clause No. 5.6.4. They also assured that the holding period for the shares exceeded six months. In scenarios where the holding period is less than six months, a procedure is in place involving the deposit of profits to the Securities and Exchange Commission of Pakistan, in compliance with section 105 of the Securities Act, 2015.

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