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Karachi: The Searle Company Limited has announced a significant share purchase by one of its executives, which is set to be reviewed in the upcoming board meeting, in accordance with Pakistan Stock Exchange regulations.
On July 19, 2024, Moujood Ul Hassan, an executive at The Searle Company Limited, purchased 300 shares of the company at a rate of 56.70 per share. The shares were acquired in a ready form from the Central Depository Company (CDC).
According to information available from the Pakistan Stock Exchange (PSX), this transaction will be scrutinized in the subsequent board meeting to address and highlight any potential non-compliance issues as mandated by clause No. 5.6.1(d) of PSX Regulations.
The company further confirmed that the holding period for the shares is over six months. In instances where transactions occur within a six-month period, a cheque equivalent to the profit is required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), under intimation to the PSX as stipulated under Section 105 of the Securities Act, 2015.