Nishat Power Limited Announces Recent Stock Transaction by Independent Director

Karachi: In a recent filing with the Pakistan Stock Exchange (PSX), Nishat Power Limited disclosed a stock transaction involving an independent director of the company. According to information available from the Pakistan Stock Exchange (PSX), the transaction took place on July 22, 2024.

Mr. Humayun Maqbool, an independent director of Nishat Power Limited, sold 2,500 shares of the company at a rate of PKR 36.94 per share. The shares were sold in the “Ready” market category, with the transaction being carried out through the Central Depository Company (CDC). This activity is in line with the disclosure requirements under clause 5.6.1.(4) of the PSX Regulations regarding the dealings of directors, CEOs, executives, their spouses, and substantial shareholders in the shares of the listed company.

The company has confirmed that this transaction will be reviewed in the upcoming board meeting, with any non-compliance issues to be specifically addressed. Additionally, Nishat Power Limited assured that the transaction complies with the holding period requirements set by the Securities Act of 2015. For transactions occurring within six months, the profit equivalent is mandated to be deposited with the Securities and Exchange Commission of Pakistan (SECP), a process that Nishat Power will adhere to as required.

This disclosure underpins the regulatory compliance and transparency upheld by Nishat Power Limited in its operations and governance.

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