PAKISTAN HOTELS DEVELOPERS LIMITED REPORTS EXECUTIVE SHARE TRANSACTIONS

Karachi: Pakistan Hotels Developers Limited disclosed significant share transactions by a director and his spouse on August 22, 2024, involving a substantial amount of shares, the company notified the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), Mr. Zaheer Baweja, a Non-Executive Director, sold 194,500 shares at a rate of 49.31 per share. Additionally, Mrs. Nadia Zaheer, his spouse, also a Non-Executive Director, sold 340,000 shares at the same rate. Both transactions were executed in the Ready Market, with shares held in the Central Depository Company (CDC) form.

The company confirmed that these transactions would be reviewed in the upcoming board meeting as stipulated under clause No. 5.6.1(d) of PSX Regulations. This review will address any non-compliance issues and ensure adherence to regulatory requirements. Furthermore, the company affirmed that if the holding period for these transactions was less than six months, the profit from these sales would be remitted to the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015.

These disclosures align with PSX regulations, ensuring transparency and regulatory compliance in executive dealings with company shares.

The post PAKISTAN HOTELS DEVELOPERS LIMITED REPORTS EXECUTIVE SHARE TRANSACTIONS appeared first on .