Disclosure of Interest in Trust Modaraba Transactions Announced

Karachi: In a recent official disclosure, substantial transactions involving the sale of certificates of Trust Modaraba have been detailed, with connections to a significant shareholder’s family.

On September 5, 2024, Mrs. Noor Jehan Bano, the wife of the late substantial shareholder Mr. Aslam Motiwala of Trust Modaraba, executed a substantial transaction. The disclosed transaction consisted of selling 1,890,227 certificates at a rate of 6.76 per certificate in the ‘Ready’ market, recorded through the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), this sale is notable due to the substantial number of certificates involved and the prominent relation of the seller to a major shareholder of the company. This transaction aligns with the required market disclosures for transparency and regulatory compliance, shedding light on the financial movements within significant shareholders’ circles of publicly traded entities.

The transaction is a part of the standard market operations but draws particular interest due to the involved parties and the volume of the transaction. Ensuring transparency, such disclosures are essential for maintaining fair trading practices and providing stakeholders with necessary information about significant market activities.

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