Substantial Shareholder Buys Shares in EFU Life Assurance

Karachi: A substantial transaction involving the purchase of shares in EFU Life Assurance Limited was executed on June 28, 2024, by EFU General Insurance Ltd., a notable shareholder of the company. According to information available from the Pakistan Stock Exchange (PSX), the transaction consisted of 19,000 shares at a rate of 198.20 per share and was conducted on the ready market through CDC (Central Depository Company) share certificates.

The transaction will be reviewed in the upcoming board meeting of EFU Life Assurance Limited. The review will focus on compliance with PSX Regulations, particularly clause No. 5.6.1.(d), which mandates the disclosure of interest by directors, CEOs, executives, their spouses, and substantial shareholders. The company has confirmed that any non-compliance identified during the transaction will be highlighted for board consideration.

Additionally, the holding period for this transaction exceeds six months. If it were within six months, any profit gained from the transaction would require the issuance of a cheque to the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015, and would need to be reported to PSX.