AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, The Pakistan Stock Exchange (PSE) has announced a major transaction involving shares of Tariq Corporation Limited. The disclosure, made on May 6, 2024, reveals that Danish Elahi, a substantial shareholder, purchased 232,000 shares at a rate of Rs. 14.99 each. The shares were acquired in the ready market and are held in CDC form.
The transaction will be reviewed in the upcoming board meeting of Tariq Corporation Limited. This review will include an examination of any non-compliances with PSX Regulation clause No. 5.6.1.(d), as well as a confirmation of the transaction details to the Exchange.
Additionally, the holding period for these shares is noted to be over six months. If it had been under six months, a cheque equivalent to the profit would be required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015, and notified to the PSX.