Substantial Shareholders Execute Large-Scale Sell-Off of Aruj Industries Shares

Karachi: A significant series of transactions were executed by Maqsood Ahmad and Naseem Maqsood, substantial shareholders of Aruj Industries Limited. These transactions occurred over several days, with the details as follows: Maqsood Ahmad sold a total of 406,494 shares through three transactions on September 9, 10, and 11, 2024, at rates of 14.94, 13.19, and 12.20 respectively. Naseem Maqsood sold shares on September 5, 2024, at a rate of 17.90. All transactions were conducted electronically and recorded in the Central Depository Company (CDC) market.

According to information available from the Pakistan Stock Exchange (PSX), these sales have been confirmed to comply with the holding period requirements outlined in Regulation No. 5.6.1 (d) of the PSX Regulations. The company has stated that if the holding period for these transactions is less than six months, the profit equivalent will be deposited with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015, with a formal intimation to the Pakistan Stock Exchange.