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Karachi: A substantial stock transaction by a top executive at Habib Bank Limited has been disclosed to the public.
Syed Yawar Ali, a General Manager at Habib Bank Limited, sold 10,250 shares on July 4, 2024. The shares were sold at a rate of Rs. 132.16 each and were handled through the Central Depository Company (CDC) in the ready market.
According to information available from the Pakistan Stock Exchange (PSX), this transaction is set to be reviewed at the next board meeting. Any potential non-compliance with clause No.5.6.1. (d) of PSX Regulations will be highlighted and addressed during this meeting.
The bank has confirmed that the holding period for the shares exceeded six months. Had it been less than six months, the profits from this sale would have been subject to deposit with the Securities and Exchange Commission of Pakistan (SECP) as per the requirements of Section 105 of the Securities Act, 2015.