AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In a recent financial disclosure to the Pakistan Stock Exchange, Treet Corporation Limited reported a notable transaction involving the sale of shares in Treet Battery Limited. The disclosure, complying with the PSX Regulations under clause No. 5.6.4, detailed a substantial sale by Treet Corporation Limited, a key shareholder in Treet Battery Limited.
Treet Corporation Limited executed the sale of 286,500 shares of Treet Battery Limited at a rate of 35.34 per share. The shares were sold in the ‘Ready’ market segment and were held in the Central Depository Company (CDC) form.
The company affirmed that the transaction had adhered to the relevant regulatory requirements, including the holding period stipulations. Specifically, it was confirmed that the transaction’s holding period exceeded six months. In compliance with the Securities Act of 2015, should the holding period have been under six months, the profits from this sale would have been required to be submitted to the Securities and Exchange Commission of Pakistan, with a corresponding notification to the PSX.
This significant financial activity will be thoroughly reviewed in the upcoming board meeting of Treet Battery Limited, where any instances of non-compliance, if identified, will be addressed as mandated by PSX regulations.