AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: United Bank Limited (UBL) has disclosed a significant transaction involving a non-executive director purchasing company shares. According to a recent notification to the Pakistan Stock Exchange (PSX), Haider Zameer Choudrey, a non-executive director of UBL, acquired 23,000 shares on October 10, 2024. The shares were bought at a rate of PKR 297.95, totaling an investment of approximately PKR 6.85 million.
This transaction has increased Mr. Choudrey’s cumulative holdings in UBL to about 3.16 million shares, representing a 0.26 percent stake in the company. The purchase was conducted through the Central Depository Company (CDC) and was classified as a ‘Ready’ transaction, indicating that the shares are available for immediate transfer.
According to information available from the Pakistan Stock Exchange (PSX), all such transactions by directors or major shareholders are closely monitored under PSX regulations to ensure transparency and prevent any potential conflicts of interest. UBL has stated that this acquisition is part of regular stock trading activities by board members, who are required to disclose their transactions to ensure compliance with corporate governance standards.
The transaction was formally reported to the PSX and will be recorded in the company’s upcoming filings, reflecting the increased stake of the director in public disclosures. UBL’s management reaffirmed their commitment to maintaining strict compliance with PSX regulations and enhancing shareholder value.