Karachi, In a recent disclosure to the Pakistan Stock Exchange (PSE), it was reported that Mr. Saulat Ali Khan, a General Manager and Executive at Habib Bank Limited, sold 31,004 shares of the bank on March 5, 2024. The shares were sold at a rate of 115.00 per share through the Central Depository Company (CDC) in the ready market.
The bank confirmed that this transaction would be discussed in the upcoming board meeting, with particular attention to any non-compliance issues as mandated under clause No. 5.6.1.(d) of PSX Regulations. Furthermore, the bank assured that it adheres to the necessary regulatory requirements, highlighting that the holding period for the shares was over six months. In the event that any transaction is within a six-month period, the bank stated that the equivalent profit would be deposited with the Securities and Exchange Commission of Pakistan (SECP) as stipulated in Section 105 of the Securities Act, 2015, with appropriate notification to the PSX.