AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In a recent disclosure to the Pakistan Stock Exchange (PSE), it has been reported that a significant transaction involving the shares of Habib Bank Limited was executed by one of its executives. The disclosure, adhering to the requirements of clause No. 5.6.1.(d) of PSX Regulations, highlights the sale of shares by Mr. Rauf Ali Jan, a General Manager at the bank.
On March 11, 2024, Mr. Rauf Ali Jan executed a sale of 16,640 shares of Habib Bank Limited at a rate of 114.54 PKR per share. The transaction was carried out through the Central Depository Company (CDC) in the ready market.
The bank has confirmed that this transaction will be reviewed in the upcoming board meeting, with a particular focus on any potential non-compliances with PSX regulations. Additionally, the bank affirmed that the holding period for the shares sold by Mr. Rauf Ali Jan exceeded six months. In compliance with Section 105 of the Securities Act, 2015, should the holding period have been less than six months, the equivalent profit from the sale would be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a formal intimation to PSX.
This disclosure underscores the transparency and regulatory compliance observed by entities listed on the Pakistan Stock Exchange, ensuring that all significant transactions by directors, executives, or substantial shareholders are promptly and accurately reported.