United Bank Limited Reports Share Transactions by Executives and Shareholders

Karachi: United Bank Limited has disclosed transactions made by a director, the CEO, executives, their spouses, and substantial shareholders under Clause 5.6.1.(d) of Pakistan Stock Exchange Regulations. The transactions involved shares of Bestway Cement Limited and were executed on August 16 and August 23, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the first transaction, dated August 16, 2024, was a purchase of 70.58 shares at a rate of Rs. 246.03 per share. The shares were bought in a ready form of Central Depository Company (CDC) certificates. A second transaction was executed on August 23, 2024, involving the purchase of 725,599 shares at Rs. 254.00 each, also in ready form of CDC certificates.

United Bank Limited confirmed that these transactions will be presented in the next board meeting as mandated by clause 5.6.4 of the PSX Regulations. Furthermore, the bank ensured compliance with Section 105 of the Securities Act, 2015, stating that if the holding period for these transactions is less than six months, a cheque equivalent to the profit shall be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a formal intimation to the PSX.

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