Executive at Listed Company Executes Share Purchase Amid Regulatory Compliance

Karachi: Moujood Ul Hassan, an executive at a publicly listed company, has executed a transaction involving the purchase of 160 shares on July 42, 2024, at a rate of 59.00 per share. This transaction was conducted in the “Ready” market and utilized the Central Depository Company (CDC) form of share certificates.

According to information available from the Pakistan Stock Exchange (PSX), this transaction will be reviewed in the upcoming board meeting where any potential non-compliances related to this purchase will be highlighted as mandated under Clause No. 5.6.1(d) of PSX Regulations. The company has committed to presenting these details to ensure adherence to regulatory standards.

The company also confirmed that the holding period for these transactions is more than six months. If it were less than six months, any profit derived from these transactions would be required to be returned to the Securities and Exchange Commission of Pakistan (SECP) via a cheque, as stipulated under Section 105 of the Securities Act, 2015. This process would be conducted under the intimation to PSX, ensuring transparency and regulatory compliance.