AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, A notable transaction has been reported involving the spouse of a high-ranking executive at Packages Limited. Mrs. Perwin Babar Ali, the wife of Syed Babar Ali, an executive at the company, purchased 2,000 shares on June 21, 2024. Each share was bought at a price of 508.63 PKR through the Central Depository Company (CDC) in the Ready market.
According to information available from the Pakistan Stock Exchange (PSX), this transaction will be scrutinized in the upcoming board meeting of Packages Limited, where any non-compliance issues as outlined under clause No. 5.6.1(d) of the PSX Regulations will be addressed. The company has confirmed that this purchase will be formally presented and reviewed during the meeting.
Additionally, it is confirmed that the holding period for these transactions exceeds six months. Should it have been within six months, a process is in place whereby the profit equivalent would be deposited with the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015. This would also be communicated to the PSX as part of the regulatory requirements.