Shell Pakistan Limited Executive Sells Shares, Complies with PSX Regulations

Karachi: An executive at Shell Pakistan Limited has sold 353 shares of the company, adhering to the requirements of the Pakistan Stock Exchange (PSX) regulations, the company disclosed today. This transaction, executed by Mohammad Saleem on January 5, 2024, involved shares sold at a price of PKR 141.02 each, totaling PKR 49,800.06.

According to information available from the Pakistan Stock Exchange (PSX), the shares were sold in the ‘Ready’ market category, facilitated through the Central Depository Company (CDC). The disclosure was made under clause 5.6.1.(d) of the PSX Regulations, which governs the reporting of transactions by directors, CEOs, executives, their spouses, and substantial shareholders.

Shell Pakistan Limited confirmed that the transaction will be reviewed in the upcoming board meeting to ensure all compliance issues are duly addressed. The company also affirmed that the holding period for the shares was over six months. In the event that the shares had been held for less than six months, the profit from the sale would be required to be deposited with the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015.

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