AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Pak Suzuki Motors Company Limited has announced a significant transaction involving a substantial shareholder, according to a financial disclosure submitted to the Pakistan Stock Exchange (PSE). The disclosure, mandated under clause 5.6.1.(d) of the PSX Regulations, details the sale of shares by Nadeem Nisar, a major stakeholder in the company.
On April 18, 2024, Nadeem Nisar executed the sale of 8,294,916 shares at a price of 609.00 PKR per share. The shares were sold in the ready market through the Central Depository Company (CDC). This transaction will be reviewed in the upcoming board meeting of Pak Suzuki Motors, where compliance with PSX regulations will be assessed, and any non-compliance will be addressed as required.
The company has confirmed that the holding period for these shares exceeded six months. In accordance with Section 105 of the Securities Act, 2015, if the holding period had been under six months, the profits from this transaction would have required the deposit of a corresponding cheque with the Securities and Exchange Commission of Pakistan (SECP), with notification to the PSE.