AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Habib Bank Limited disclosed that its General Manager, Mr. Arshad Iqbal, sold 500 shares of the company on July 12, 2023. The transaction, executed at a rate of 147.00 PKR per share, was carried out through the Central Depository Company (CDC) in the ready market.
The bank informed stakeholders that Mr. Iqbal’s transaction involved shares that had been held for over six months. According to information available from the Pakistan Stock Exchange (PSX), if the holding period had been under six months, the profits from such sales would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015, with a mandatory intimation to PSX.
The transaction will be reviewed in the upcoming board meeting of Habib Bank Limited. The review will include a discussion on any non-compliance issues as per clause No. 5.6.1(d) of PSX Regulations, with a confirmation to be subsequently provided to the Exchange.