AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, INTERLOOP LIMITED disclosed that Tariq Rashid Malik, an executive at the company, executed transactions involving the sale of company shares. According to information available from the Pakistan Stock Exchange (PSX), the details of these transactions are as follows. On June 3, 2024, Malik sold 47,661 shares at a rate of 82.60 PKR per share. On June 5, 2024, he sold 97,339 shares at a rate of 80.75 PKR per share. Both transactions were conducted in the ready market through CDC (Central Depository Company) share certificates.
The company also confirmed that these transactions would be discussed in the subsequent board meeting to address and highlight any non-compliance issues as per the requirements of clause No. 5.6.1.(d) of PSX Regulations. Furthermore, INTERLOOP LIMITED stated that the holding period for these transactions exceeded six months. In compliance with Section 105 of the Securities Act, 2015, if the holding period had been less than six months, a cheque equivalent to the profit would have been deposited with the Securities and Exchange Commission of Pakistan, with an intimation to the PSX.