Habib Bank Limited Executive Sells Over 80,000 Shares

Karachi: Habib Bank Limited announced a series of transactions involving the sale of shares by one of its executives, Ms. Shafaq Rabid, the General Manager. These transactions, carried out on various dates in July 2024, totaled 83,445 shares sold at prices ranging from 135.50 to 136.06 PKR per share.

According to information available from the Pakistan Stock Exchange (PSX), all transactions were executed under the Ready Market category and involved the Central Depository Company (CDC) form of share certificates. The details of the transactions included multiple sales conducted on the same date, July 41, 2024, with quantities varying from as few as 3 to as many as 25,000 shares per transaction.

Habib Bank Limited has confirmed that these transactions will be reviewed in the upcoming board meeting. This review will address any non-compliances with the PSX Regulations, specifically clause No. 5.6.1(d). Additionally, the bank has stated that the holding period for these transactions exceeded six months. However, if any sales had occurred within a six-month period, profits would be subjected to regulations under Section 105 of the Securities Act, 2015, which mandates the deposit of equivalent profits with the Securities and Exchange Commission of Pakistan.

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