Searle Company Limited Executive Buys Shares on Pakistan Stock Exchange

Karachi, An executive at Searle Company Limited has conducted a share purchase transaction, the company disclosed in a recent filing with the Pakistan Stock Exchange (PSE). The transaction was completed on April 23, 2024, as part of the requirements under the PSE regulations concerning the disclosure of interests by directors, CEOs, executives, their spouses, and substantial shareholders.

Moujood Ul Hassan, identified as an executive at Searle, purchased 400 shares at a rate of 56.62 PKR per share. The shares were bought in the ready market and are held in the Central Depository Company (CDC). The transaction will be reviewed at the company’s next board meeting, with a focus on any non-compliance issues as stipulated under clause No. 5.6.1.(d) of the PSX Regulations.

The company also confirmed that the holding period for these transactions exceeds six months. If it were under six months, profits would have to be returned to the Securities and Exchange Commission of Pakistan (SECP) as per Section 105 of the Securities Act, 2015. This compliance ensures the executive’s transactions align with the legal frameworks governing market conduct and corporate governance.