Hub Power Company Executive Sells Shares Under PSX Regulations

Karachi: The Hub Power Company Limited has reported a significant transaction involving the sale of shares by Ms. Fatima Marium, an executive of the company. On October 7, 2024, Ms. Marium sold 2,350 shares at an average rate of 121.20 per share, adhering to the disclosure requirements mandated by Regulation No.5.6.1(d) of the PSX Rule Book.

The transaction, carried out through the Pakistan Stock Exchange, was executed electronically, emphasizing the company’s compliance with modern trading facilities. According to information available from the Pakistan Stock Exchange (PSX), this disclosure aligns with the company’s commitment to transparency and regulatory compliance.

This sale was completed in the Stock Market through the electronic CDC system, ensuring a streamlined and secure transaction process. The company has confirmed that all details of this transaction will be thoroughly discussed in the upcoming board meeting, including compliance checks and any necessary actions as required under the said regulation.

Further compliance details highlighted in the disclosure include a mandatory hold period of over six months for the shares prior to the sale. In cases where the holding period is less than six months, proceeds corresponding to the profit must be deposited with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015.

The Hub Power Company Limited has notified all relevant parties, including the PSX and SECP, ensuring that all regulatory measures are observed and adhered to.

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