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Karachi: EFU General Insurance Ltd., a substantial shareholder in EFU Life Assurance Limited, purchased 5,200 shares on June 27, 2024, at a rate of Rs. 200.28 per share. This transaction was conducted through the Central Depository Company (CDC) on the Ready Market.
According to information available from the Pakistan Stock Exchange (PSX), the purchase will be reviewed in the upcoming board meeting to address any potential non-compliance issues as stipulated under clause No. 5.6.1(d) of PSX Regulations. This clause ensures that transactions by directors, executives, or substantial shareholders are disclosed and evaluated for compliance with regulatory requirements.
The company has confirmed that the shares were held for over six months, ensuring adherence to the required holding period as mandated by the Securities Act of 2015. If the holding period had been less than six months, any resulting profit would have to be returned to the Securities and Exchange Commission of Pakistan (SECP), emphasizing the commitment to regulatory compliance and transparency in transactions.