Treet Corporation Limited Executes Substantial Share Sale

Lahore: Treet Corporation Limited, a major shareholder in Treet Battery Limited, has sold a significant number of shares, as confirmed in a recent regulatory filing. The transactions occurred on September 19, 2024, with the substantial shareholder offloading a total of 294,916 shares in two separate transactions.

According to information available from the Pakistan Stock Exchange (PSX), the shares were sold at rates of PKR 16.87 and PKR 16.94, detailed through CDC certificates in the ‘Ready’ market category. The first transaction involved the sale of 112,806 shares, while the second comprised 183,851 shares.

The notification to the Pakistan Stock Exchange highlighted that these sales will be discussed in Treet Battery Limited’s upcoming board meeting. The correspondence emphasized adherence to the PSX Regulations clause 5.6.1(d), assuring compliance with all necessary legal and regulatory frameworks.

The proceeds from these transactions are subject to regulations, including a potential deposit with the Securities and Exchange Commission of Pakistan (SECP) if the holding period for the shares was less than six months, as stipulated under Section 105 of the Securities Act, 2015.

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