Treet Corporation Executes Major Share Sale

Lahore: Treet Battery Limited, a publicly listed entity, has disclosed a significant transaction involving its shares. According to a recent filing with the Pakistan Stock Exchange (PSX), Treet Corporation Limited, identified as a substantial shareholder, sold 1,601,598 shares on July 5, 2024. The shares were sold at a rate of 24.22 per share through the Central Depository Company (CDC) in the ready market.

The transaction, as per the company’s disclosure, took place after the mandatory holding period of over six months. In the event that such transactions occur within a six-month period, profits are required to be surrendered. According to Treet Battery Limited, if the sale had been within this timeframe, the profit would be calculated and a cheque for the amount would be deposited with the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015.

According to information available from the Pakistan Stock Exchange (PSX), this substantial transaction by Treet Corporation Limited will be reviewed in the forthcoming board meeting of Treet Battery Limited. The board intends to address any potential non-compliance issues as required under clause No. 5.6.1(d) of PSX Regulations and confirm compliance with the Exchange.

This sale marks a notable activity in the shares of Treet Battery Limited, reflecting significant movements within the corporate governance framework set by regulatory authorities.