Disclosure of Share Transactions by Substantial Shareholder of Aruj Industries Limited

Karachi: Details have emerged concerning share transactions by a substantial shareholder of Aruj Industries Limited. Mr. Maqsood Ahmad Butt has been identified as the individual executing these sales, which took place across multiple dates in May 2024.

On May 12, 2024, Mr. Butt sold 2,000 shares at a rate of PKR 20.89 each. This was followed by the sale of 26,000 shares on May 19, 2024, at a rate of PKR 18.39 per share, and a subsequent sale of 3,400 shares on May 20, 2024, at PKR 19.73 per share. All transactions were conducted electronically through the Central Depository Company (CDC) and were in compliance with PSX Regulation No. 5.6.1 (d).

According to information available from the Pakistan Stock Exchange (PSX), the regulation stipulates that if the holding period of the shares is less than six months, the profits from these transactions must be relinquished. Specifically, cheques equivalent to the profit are to be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a mandatory notification to the Pakistan Stock Exchange. This ensures compliance with section 105 of the Securities Act, 2015.

PSX authorities have been informed, and they will relay this information to the Integrated Regulatory Environment (IRE) Certificate holder accordingly.

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