AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Tanveer Karamat, a director at Avanceon Limited, has sold a total of 30,000 company shares through transactions registered with the Central Depository Company (CDC) on July 23, 2024, it was disclosed on Monday. According to information available from the Pakistan Stock Exchange (PSX), the transactions were reported as per the regulatory requirements.
Karamat executed two separate sales on the same date; the first transaction involved 20,000 shares at a price of PKR 67.56 per share, and the second comprised 10,000 shares at PKR 67.60 per share. The total revenue from these sales amounted to approximately PKR 2.03 million. These transactions were disclosed to the PSX on July 30, 2024, in compliance with clause 5.6.4 of the Code of Corporate Governance contained in the PSX Rule Book, which mandates the reporting of such activities by executives of listed companies.
This disclosure aligns with PSX regulations that ensure transparency in the trading activities of major shareholders and company executives, to maintain fair trading practices and prevent potential conflicts of interest.