AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Ms. Fouzia Jabeen Janjua, a General Manager at Habib Bank Limited, executed multiple share sales on July 5, 2024, totaling 5,000 shares at varying prices, disclosed under compliance with Pakistan Stock Exchange (PSX) regulations.
According to information available from the Pakistan Stock Exchange (PSX), Ms. Janjua’s transactions included selling 2,000 shares at 135.00, 1,000 at 138.00, 1,000 at 139.80, and another 1,000 at 140.00, all through the Central Depository Company in the ready market. These sales are part of the regulatory disclosures required under Clause 5.6.1.(d) of PSX Regulations, which mandate executives and substantial shareholders to report their trading activities.
The transactions are set to be reviewed in the next board meeting to address any potential non-compliance issues, as mandated by the regulations. The bank has also confirmed that the holding period for these shares exceeded six months. If it had been shorter, profits from the sales would need to be surrendered to the Securities and Exchange Commission of Pakistan (SECP) according to Section 105 of the Securities Act, 2015, ensuring adherence to anti-insider trading laws.