AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, The Pakistan Stock Exchange (PSX) was informed of recent transactions by directors and executives of Highnoon Laboratories Limited. This disclosure is in compliance with the PSX Regulation 5.6.4, concerning transactions by directors, CEOs, executives, their spouses, and substantial shareholders.
Mr. Ghulam Hussain Khan, a non-executive director at Highnoon Laboratories, sold 5,000 shares on May 7, 2024, with each share priced at PKR 625.51. The shares were sold in the Ready Market and are held in CDC form.
Another executive at the company, Ashfaq, sold 1,700 shares on the same day. These shares were also sold in the Ready Market at a rate of PKR 623.86 each and held in CDC form.
Highnoon Laboratories confirmed that these transactions would be presented at the upcoming board meeting. The company will highlight any non-compliance issues as per clause No. 5.6.1(d) of PSX Regulations and report back to the Exchange. Additionally, it was confirmed that the holding period for the shares was over six months. If it had been less, the profits would have been required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated under Section 105 of the Securities Act, 2015.