AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Transactions in shares of Kohat Cement Company Limited by its executive and his spouse were conducted on July 3, 2024, it was disclosed today.
According to information available from the Pakistan Stock Exchange (PSX), Mr. Omer Aizaz Sheikh, an executive at Kohat Cement, purchased 1,000 shares at a rate of 277.11 PKR per share. Concurrently, Ms. Meher Khan Tareen, Mr. Sheikh’s spouse, acquired 500 shares at a price of 276.61 PKR each. Both transactions were carried out through the Central Depository Company (CDC).
The company has stated that these transactions will be reviewed at the upcoming board meeting. This review will include an assessment of any non-compliance with PSX Regulation clause No. 5.6.4, which the company must report back to the exchange.
Additionally, the company confirmed that if the holding period for these transactions is less than six months, any profits earned would be surrendered to the Securities and Exchange Commission of Pakistan (SECP) in the form of a cheque, as mandated by Section 105 of the Securities Act, 2015.