AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Tariq Rashid Malik, an executive at the company, executed a transaction gifting out 200,000 shares on June 27, 2024. The shares, valued at a nominal rate, were transferred through the Central Depository Company (CDC), ensuring compliance with the Pakistan Stock Exchange (PSX) regulations.
The transaction is part of the mandatory disclosures required under clause 5.6.1.(d) of the PSX Regulations, which mandates the reporting of any substantial share transactions by directors, CEOs, executives, their spouses, and substantial shareholders. According to information available from the Pakistan Stock Exchange (PSX), this particular transaction will be reviewed in the upcoming board meeting, where any non-compliance issues will be highlighted and addressed as necessary.
Interloop has confirmed that the holding period for these shares was over six months. In the event that such transactions occur within a six-month period, the company is required to deposit a cheque equivalent to the profits with the Securities and Exchange Commission of Pakistan (SECP), a process Interloop has adhered to, demonstrating its commitment to regulatory compliance.