Synthetic Products Executive Conducts Transactions in Company Shares

Karachi: Synthetic Products Enterprises Limited has disclosed transactions conducted by Mirza Sikander Baig, an executive employee, in the company’s shares on September 19, 2024. These transactions, reported under section 5.6.1.(d) of the Pakistan Stock Exchange Regulations, involved both the sale and purchase of shares within a single trading day.

Mirza Sikander Baig sold 5,000 shares at a rate of PKR 41.1726 per share and purchased 13,115 shares at PKR 40.9981 per share. Both transactions were carried out in electronic form through the Central Depository System (CDS) and were completed on the ready market.

According to information available from the Pakistan Stock Exchange (PSX), the disclosure of these transactions is part of the regulatory requirements that ensure transparency and fairness in the trading activities of company insiders. The transactions will be reviewed in the upcoming board meeting to assess compliance with the PSX Regulations.

The company has also confirmed that if the holding period for these transactions is less than six months, any profit derived will be submitted to the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015. This measure is intended to prevent the misuse of insider information and to uphold market integrity.

This disclosure is part of the ongoing efforts to ensure that all substantial shareholders and executives’ trading activities are transparent and in accordance with regulatory frameworks.

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