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Karachi: A series of share transactions by a senior executive at Habib Bank Limited were executed over two consecutive days.
Mr. Zeeshan A Malik, General Manager at Habib Bank, sold a total of 1,000 shares in separate transactions. On July 4, 2024, he sold 498 shares and 2 shares in two different instances at a price of Rs. 132.49 each. The following day, he sold an additional 500 shares at Rs. 132.00 each. All transactions were carried out through the Central Depository Company (CDC) in the ready market.
According to information available from the Pakistan Stock Exchange (PSX), these sales will be reviewed in the bank’s next board meeting. The discussion will include any potential non-compliance with clause No.5.6.1. (d) of PSX Regulations.
The bank also confirmed that the holding period for the shares prior to the transaction exceeded six months. Should any part of these transactions have occurred within six months, the profits would be subjected to regulations under Section 105 of the Securities Act, 2015, requiring a cheque for the profit amount to be deposited with the Securities and Exchange Commission of Pakistan (SECP).