AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, A significant financial transaction was disclosed to the Pakistan Stock Exchange (PSE) involving a high-ranking executive from Habib Bank Limited. The disclosure adheres to the PSE Regulation clause 5.6.1.(d), detailing the sale of shares by insiders of listed companies.
Mr. Asad Altaf, General Manager at Habib Bank, executed a transaction involving the sale of 37,406 shares at a rate of 113.11 PKR per share. The shares were held in the Central Depository Company (CDC) and were sold in the ready market.
The bank confirmed that this transaction will be discussed in the upcoming board meeting. Any potential non-compliance identified will be addressed as mandated by the PSE regulations. The bank also verified that the holding period for these shares exceeded six months. However, if the period had been less than six months, profits from the sale would have been deposited with the Securities and Exchange Commission of Pakistan, as required by Section 105 of the Securities Act, 2015.