AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Treet Battery Limited has officially disclosed significant transactions by Treet Corporation Limited, a substantial shareholder, involving the sale of over 3.74 million shares in July 2024. This disclosure is in compliance with PSX Regulations under clause No. 5.6.1(d).
The series of transactions, reported on July 9, 10, and 11, 2024, saw Treet Corporation Limited selling shares at varying prices per share. On July 9, approximately 222,501 shares were sold at a rate of PKR 23.43. This was followed by a sale of 2,432,900 shares at PKR 23.83 on July 10, and 1,231,188 shares at PKR 23.35 on July 11. All transactions were conducted through the Central Depository Company (CDC) and were settled on a ready basis.
According to information available from the Pakistan Stock Exchange (PSX), Treet Battery Limited has confirmed that these transactions will be addressed in the upcoming board meeting. This will include reviewing any potential non-compliance issues as mandated by the PSX regulations. The company also confirmed that the holding period for these transactions exceeded six months. For any transactions within this period that resulted in profit, the company is committed to depositing a cheque equivalent to the profit with the Securities and Exchange Commission of Pakistan (SECP), as required under Section 105 of the Securities Act, 2015, with a formal intimation to PSX.
These disclosures align with Treet Battery Limited’s commitment to transparency and adherence to regulatory requirements concerning the dealings of its directors, executives, and substantial shareholders.