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Karachi: Treet Corporation Limited, a substantial shareholder in Treet Battery Limited, has executed a significant sale of shares, as disclosed under the regulatory framework of the Pakistan Stock Exchange (PSX).
On July 19, 2024, Treet Corporation Limited sold 104,218 shares at a rate of 22.94 per share. This transaction was conducted in the Ready Market, utilizing Central Depository Company (CDC) share certificates. According to information available from the Pakistan Stock Exchange (PSX), this move is part of the standard trading activities and has been duly reported to the PSX to ensure compliance with market regulations.
The company has stated that this transaction, along with any issues of non-compliance, will be discussed in the upcoming board meeting. Furthermore, it was confirmed that the holding period for these shares was over six months. For transactions within a six-month period, regulations require that profits be returned to the company via a cheque to the Securities and Exchange Commission of Pakistan (SECP), a measure designed to prevent speculative trading by insiders.
This sale is part of the routine financial movements within the company, and Treet Battery Limited maintains its commitment to transparency and adherence to regulatory requirements.