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Karachi: Mian Idrees Ahmed Sheikh, a director identified by code F-142, purchased 800 shares of his company on July 22, 2024, for PKR 1,395 each. The shares were bought in physical form on the regular market.
According to information available from the Pakistan Stock Exchange (PSX), the transaction complies with the regulatory requirements stipulated under Clause 5.6.4 of PSX Regulations. The company has announced that this transaction, along with other similar activities, will be reviewed in the upcoming board meeting.
The company further assured compliance with Section 105 of the Securities Act, 2015, stating that if the holding period for these shares is less than six months, any profit derived would be surrendered to the Securities and Exchange Commission of Pakistan (SECP), with a corresponding notification to the PSX. This measure is intended to prevent and penalize any potential insider trading activities.