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Karachi, Habib Bank Limited has reported a transaction involving the sale of shares by Syed Mudassir Niazi, a General Manager and executive of the bank. The transaction, dated April 29, 2024, involved the sale of 13,608 shares at a price of 116.60 PKR per share. The shares were sold on the Central Depository Company (CDC) under the ‘Ready’ category.
The bank confirmed that this transaction will be reviewed in the upcoming board meeting. It will be assessed for any non-compliance with the PSX Regulations, specifically clause No. 5.6.1(d), and the findings will be reported back to the Pakistan Stock Exchange (PSE).
Additionally, Habib Bank Limited assured that the holding period for the shares was over six months. If it had been less than six months, the executive would have been required to deposit the equivalent profit amount with the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015, with a notification to PSE.