Interloop Executive Conducts Share Transactions, Discloses to Pakistan Stock Exchange

Karachi, In compliance with the Pakistan Stock Exchange (PSX) Regulation clause 5.6.1.(d), Interloop Limited has announced transactions conducted by Tariq Rashid Malik, an executive of the company. The disclosure, aimed at maintaining transparency with the market participants, details two distinct transactions involving the sale and gifting of company shares.

On April 2, 2024, Malik executed a sale of 50,000 shares at a rate of 72.21 PKR per share through the Central Depository Company (CDC) in the ready market. Following this, on April 4, 2024, he gifted out 230,000 shares, with the transaction facilitated through the CDC but without any monetary exchange.

The company has confirmed that these transactions will be reviewed in the upcoming board meeting, with a focus on any non-compliance issues as per the PSX Regulations. Additionally, Interloop Limited has assured that the transactions adhere to the required holding period of over six months as stipulated by the Securities Act, 2015. In cases where transactions occur within a six-month period, the company has committed to depositing the equivalent profit with the Securities and Exchange Commission of Pakistan (SECP), as mandated, while also notifying the PSX of such actions.