EFU General Insurance Ltd Announces Recent Transactions by a Director

Karachi: EFU General Insurance Ltd has reported recent share transactions conducted by an Independent Director, providing transparency in compliance with PSX Regulations. According to details released by the company, Yasmin Hyder, an Independent Director, made two separate share purchases on August 26, 2024, and August 27, 2024, involving a total of 5,000 shares.

According to information available from the Pakistan Stock Exchange (PSX), the transactions included the purchase of 1,799 shares at a rate of Rs. 87.50 and 3,201 shares at Rs. 87.92, all registered under the Central Depository Company (CDC) in the Ready Market category. These purchases are part of the standard regulatory disclosures under clause No. 5.6.4 of PSX Regulations, highlighting transparency and compliance in the operations of listed companies.

The company has confirmed that these transactions will be reviewed in the upcoming board meeting to address and highlight any non-compliance issues. Additionally, EFU General Insurance has affirmed compliance with the Securities Act of 2015, noting that if the holding period for these transactions is less than six months, any resulting profit will be surrendered to the Securities and Exchange Commission of Pakistan (SECP), as mandated.

The proactive disclosure by EFU General Insurance reinforces the regulatory framework designed to maintain fairness and transparency in the financial dealings of company executives and significant shareholders.

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