Millat Tractors Limited: Substantial Share Purchases by Non-Executive Director Reported to Pakistan Stock Exchange

Karachi, Millat Tractors Limited has reported a series of share purchases by Qaiser Saleem, a Non-Executive Director, to the Pakistan Stock Exchange (PSX) as per the regulatory requirements. The transactions, detailed in the disclosure, occurred on April 26, 2024, involving varying quantities of shares purchased at different prices.

Saleem acquired shares in multiple transactions throughout the day, buying 5 shares at PKR 604.15, 1438 shares at PKR 604.99, 1662 shares at PKR 605.00, 200 shares at PKR 606.40, 1000 shares at PKR 606.50, 200 shares at PKR 606.98, 3687 shares at PKR 607.00, 58 shares at PKR 607.95, 410 shares at PKR 607.96, and 496 shares at PKR 607.97. Each transaction was executed through the Central Depository Company (CDC) and classified as ‘Ready’.

The company confirmed that these transactions would be reviewed in the subsequent board meeting to address any non-compliances with PSX Regulation clause No. 5.6.1(d). Additionally, it was noted that if the holding period for these transactions is less than six months, any profit realized would be deposited with the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015, with proper intimation to PSX.