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Karachi, Muhammad Irfan Anwer Sheik, also a non-executive director at United Bank Limited, bought 30,000 shares for 281.21 each. In a related transaction, Tahir Sheik, spouse of Muhammad Irfan Anwer Sheik, purchased 3,000 shares at a price of 217.49 per share. According to information available from the Pakistan Stock Exchange (PSX), all shares were bought in the ready market and are held in CDC certificates.
These transactions are set to be reviewed in the forthcoming board meeting to ensure compliance with PSX Regulation clause No. 5.6.1.(d). The bank has assured that if the transactions are within a six-month holding period, profits will be reported and managed according to the Securities Act, 2015, with the required profits deposited with SECP.