AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: United Bank Limited (UBL) disclosed a transaction by a non-executive director in compliance with Pakistan Stock Exchange regulations. According to the announcement dated October 14, 2024, Tahira Sheikh, identified as a non-executive director and spouse of Muhammad Irfan Anwar Sheikh, purchased 3,500 shares of UBL at a rate of PKR 298.50 per share on October 9, 2024. This transaction has been recorded with the Central Depository Company and is part of ongoing disclosures required by PSX regulation 5.6.4.
The purchase adds to Sheikh’s existing shareholdings in UBL, bringing her cumulative total to 88.50 million shares, representing a 0.01 percent stake in the company. According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of mandatory disclosures aimed at ensuring transparency in the dealings of company insiders.
United Bank Limited reiterated its commitment to compliance with PSX regulations, stating the transaction was reported during a non-trading period as per company policy. The disclosure ensures that all relevant details are promptly shared with the UIN Management System, as mandated by PSX guidelines.
This transaction underscores the continuing interest of board members and significant shareholders in maintaining and increasing their stakes in UBL, reflecting confidence in the bank’s management and future prospects. UBL, headquartered in Karachi, continues to be a major player in Pakistan’s banking sector, promoting transparency and good governance practices.