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Karachi, United Bank Limited has reported significant share transactions involving a non-executive director and a substantial shareholder, adhering to the disclosure requirements under clause 5.6.1.(d) of the Pakistan Stock Exchange (PSX) Regulations.
Gift Transactions Involving Shares Reported
The transactions, which took place on January 9, 2024, involved Sir Mohammad Anwar Pervez, a non-executive director of the bank, who gifted out 200,000 shares. Concurrently, Dawood Pervez, identified as a substantial shareholder, received these shares as a gift in. Both transactions were executed at a rate of Rs. 0.00 per share and were processed through the CDC (Central Depository Company) in the Ready market.
Compliance and Board Meeting Assurance
United Bank Limited has assured that these transactions will be reviewed in the subsequent board meeting. The bank will address and highlight any non-compliances, if any, for consideration as required by the PSX Regulations. The bank also confirms adherence to the regulations, stating that the transactions will be duly presented to the Exchange for compliance.
These reported transactions reflect United Bank Limited’s commitment to maintaining transparency in its financial and corporate governance practices, in line with regulatory requirements.