AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: In a recent transaction on the Pakistan Stock Exchange (PSX), Mian Idrees Ahmed Sheikh, an executive at Allawasaya Textile & Finishing Mills Limited, purchased 1,200 shares of the company. The transaction took place on June 25, 2024, with the shares bought at a rate of 1,395 PKR per share in physical form. According to information available from the Pakistan Stock Exchange (PSX), this transaction is set to be presented at the subsequent board meeting.
The shares were acquired in a regular market transaction, and the company has confirmed that the holding period for these shares has exceeded six months. However, if it had been within six months, the profit from this sale would have been subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP), as mandated under Section 105 of the Securities Act, 2015, with notification to PSX.
This disclosure aligns with the compliance measures under Clause 5.6.4 of the PSX Regulations, which govern the conduct of directors, CEOs, executives, their spouses, and substantial shareholders in the trading of listed company shares.