Substantial Transactions by Treet Corporation Executives Reported to PSX

Karachi, Treet Corporation Limited has disclosed substantial share transactions by its executives as required under the PSX Regulations. The transactions, involving a significant volume of shares, were executed on June 20 and June 21, 2024, and are set to be discussed in the upcoming board meeting.

The details of the transactions reveal that on June 20, 2024, Treet Corporation Limited, identified as a substantial shareholder, sold 564,064 shares at a rate of 20.69 per share. The following day, the corporation executed another sell order of 176,014 shares at a price of 20.05 each. Both transactions were conducted in the ready market and were logged through the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), the company has confirmed that these transactions will be reviewed at the next board meeting, where any potential non-compliance issues will be addressed as mandated by clause No. 5.6.1(d) of PSX Regulations. Additionally, Treet Corporation assured that the holding period for the shares sold was over six months. In cases where transactions occur within a six-month period, it is required that profits be returned to the Securities and Exchange Commission of Pakistan (SECP) through a cheque, which must also be reported to the PSX.

This disclosure comes amidst heightened scrutiny of executive transactions in listed companies, aiming to maintain transparency and integrity within the financial markets of Pakistan.