AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: In recent transactions reported on July 10-12, Bestway Cement Limited, a substantial shareholder in United Bank Limited, executed multiple share purchases totaling 155,547 shares. According to information available from the Pakistan Stock Exchange (PSX), these purchases were made through the Central Depository Company (CDC) in ready form.
On July 10, Bestway Cement Limited acquired 5,000 shares at a rate of PKR 258.00 per share. This was followed by the purchase of 45,547 shares on July 11 at PKR 257.89 each, and a significant transaction of 100,000 shares on July 12 at PKR 255.65 per share.
These transactions are set to be presented at the upcoming board meeting of United Bank Limited, as part of compliance with clause No. 5.6.1(d) of PSX Regulations. The board will review any non-compliance issues and confirm these transactions to the Exchange.
Further compliance details reveal that if the holding period for these transactions is less than six months, any profits will be handled according to Section 105 of the Securities Act, 2015. Specifically, a cheque for the profit amount will be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a corresponding notification to PSX.