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Karachi: Systems Limited has reported recent share transactions by Harris Hasan Syed, the spouse of independent director Romana Abdullah. The transactions involved the sale of company shares and were carried out in compliance with Pakistan Stock Exchange (PSX) regulations.
On July 15, 2024, Mr. Syed executed two separate transactions where he sold 2,500 shares at PKR 470.00 each and 5,000 shares at PKR 450.00 each. These shares were sold in the ready market and are recorded in the Central Depository Company (CDC) system.
According to information available from the Pakistan Stock Exchange (PSX), Systems Limited stated that these transactions will be reviewed in the upcoming board meeting. The review will focus on ensuring all transactions align with clause No. 5.6.1.(d) of the PSX Regulations, particularly concerning any non-compliance issues.
The company also confirmed adherence to the holding period requirement, specifying that the transactions exceeded six months. For any transactions within this period, Systems Limited is prepared to deposit any profits gained into the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015.