Senior Executive at Bolan Castings Limited Engages in Significant Share Sell-off

Karachi: A senior executive at Bolan Castings Limited, Mujtaba Ahmed, has conducted a series of transactions involving the sale of company shares on August 22, 2024. The trades, which totaled 11,911 shares, were carried out in the ready market.

Mujtaba Ahmed executed ten separate sales transactions ranging from 19 to 2,000 shares per transaction. The prices per share varied slightly, starting at PKR 100.00 and peaking at PKR 102.12. All transactions were processed through the Central Depository Company (CDC), ensuring official recording and compliance with PSX regulations.

According to information available from the Pakistan Stock Exchange (PSX), these transactions will be reviewed in the upcoming board meeting of Bolan Castings Limited, where any potential non-compliances with PSX Regulation 5.6.1.(d) will be addressed. The company has confirmed that all shares sold had been held for over six months. If any sales had occurred within this period, the profits would be required to be surrendered to the Securities and Exchange Commission of Pakistan (SECP), in line with Section 105 of the Securities Act, 2015, and duly reported to PSX.

The company’s disclosure underscores its commitment to transparency and regulatory compliance amidst its executive trading activities.

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