AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Silkbank Limited has announced that its President and CEO, Mr. Shahram Raza Bakhtiari, executed a sale of shares on July 9, 2024. According to information available from the Pakistan Stock Exchange (PSX), the details of the transaction include the sale of 679,880 shares at a rate of Rs. 0.90 per share.
The shares were sold in the form of CDC Ready certificates. This transaction will be reviewed in the upcoming board meeting to address any potential non-compliance issues as mandated by PSX Regulations, specifically under clause No. 5.6.4.
Silkbank also confirmed that the holding period for these transactions exceeded six months. Should any transactions fall within this period, the profits will be reconciled according to the Securities Act of 2015, with the proceeds to be deposited with the Securities and Exchange Commission of Pakistan (SECP) and reported to PSX.