AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: A substantial transaction involving shares of Treet Battery Limited was disclosed today, following the regulations set forth by the Pakistan Stock Exchange (PSX). According to information available from the Pakistan Stock Exchange (PSX), TTREET Corporation Limited, a major shareholder, executed a significant sell-off of its holdings on June 27, 2024.
TTREET Corporation Limited sold a total of 143,005 shares of Treet Battery Limited at a price of PKR 19.73 per share. The shares were sold through the Central Depository Company (CDC) in the Ready Market, indicating a routine transaction.
This transaction will be reviewed in the forthcoming board meeting of Treet Battery Limited, where any potential non-compliances with PSX regulations will be addressed. The company has confirmed that the shares were held for over six months, aligning with regulatory requirements that mandate a minimum holding period to discourage speculative trading. In the event that the shares had been held for less than six months, profits from the sale would be subject to return to the Securities and Exchange Commission of Pakistan (SECP), as stipulated by Section 105 of the Securities Act, 2015.
This disclosure not only emphasizes transparency but also reinforces the adherence to corporate governance norms that the PSX mandates for all listed entities. Such disclosures are vital for maintaining investor confidence and ensuring a fair-trading environment in the Pakistani capital markets.