Habib Bank Limited Executive Conducts Multiple Share Transactions

Karachi: In a recent disclosure under the Pakistan Stock Exchange (PSX) regulations, Habib Bank Limited announced that Ms. Fouzia Jabeen Janjua, a General Manager at the bank, executed several share transactions on July 11, 2024. The transactions involved buying and selling shares of the company, as outlined in the regulatory compliance section 5.6.1.(d) of the PSX regulations.

Ms. Janjua engaged in three separate transactions, all conducted on the same day. Initially, she purchased 1,000 shares at a rate of 134.60 PKR per share, followed by another 1,000 shares bought at 136.60 PKR each. Subsequently, Ms. Janjua sold 2,000 shares at a rate of 139.90 PKR per share. According to information available from the Pakistan Stock Exchange (PSX), all shares were listed as ‘Ready’ in the Central Depository Company (CDC) format.

The bank confirmed that these transactions will be reviewed in the upcoming board meeting, where any non-compliance issues, if identified, will be highlighted and addressed as mandated by PSX regulations. Additionally, Habib Bank Limited affirmed that the holding period for these transactions exceeded six months. In scenarios where transactions occur within six months, the profits are required to be returned, as per Section 105 of the Securities Act, 2015, with a corresponding cheque deposited with the Securities and Exchange Commission of Pakistan (SECP).

This announcement underscores the bank’s commitment to transparency and adherence to regulatory standards, ensuring that all executive actions are thoroughly vetted and disclosed in compliance with legal and ethical norms.