Karachi, A recent transaction involving Cherat Cement Company Limited shares by a board member has been executed in accordance with Pakistan Stock Exchange (PSX) regulations, according to a disclosure released today.
Mr. Arif Dino Faruque, a director at Cherat Cement, sold 30,000 shares on May 6, 2024, for a rate of 165.00 PKR per share through CDC certificates. The transaction will be reviewed in the upcoming board meeting to address any potential non-compliance issues as stipulated under clause No. 5.6.4 of the PSX regulations.
The company confirmed that the holding period for these shares exceeded six months. In case the holding period had been less than six months, profits from this transaction would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP) to comply with section 105 of the Securities Act, 2015.