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Habib Bank Executive Engages in Multiple Share Transactions

Karachi: Habib Bank Limited has disclosed multiple share transactions executed by Mr. Mian Ejaz Ahmad, a General Manager and executive of the bank. These transactions were conducted on July 8, 2024, involving substantial sales of company shares.

The transactions listed by Habib Bank included eight separate instances where Mr. Ahmad sold shares at varying prices ranging from 138.99 to 141.25. The largest single transaction involved the sale of 20,000 shares at a rate of 140.00. Overall, Mr. Ahmad executed sales of 91,815 shares in one day, all through the Central Depository Company (CDC) on the ready market.

According to information available from the Pakistan Stock Exchange (PSX), the bank confirmed that these transactions would be reviewed in the upcoming board meeting to address any potential non-compliance issues as stipulated under PSX regulations. Additionally, Habib Bank affirmed compliance with the holding period requirements, noting that any transactions within a six-month period would lead to the deposit of equivalent profits with the Securities and Exchange Commission of Pakistan, as mandated by the Securities Act, 2015.

These transactions by a high-ranking executive of Habib Bank underscore the active trading status of its shares within the regulatory frameworks set by financial authorities. The bank has ensured full transparency and adherence to legal and regulatory standards in disclosing these trades to the PSX.

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