Karachi: Colgate-Palmolive (Pakistan) Limited has disclosed a recent share transaction involving one of its directors, according to a notification released by the company.

On July 10, 2024, Director Iqbal Ali Lakhani executed a gift out transaction involving 800,000 shares of Colgate-Palmolive (Pakistan) Limited. The shares, valued at an unspecified rate per share, were transferred in electronic form via the Central Depository System (CDS). According to information available from the Pakistan Stock Exchange (PSX), the details of this transaction were recorded as per the PSX regulations under clause No. 5.6.1(d).

The company confirmed that the transaction would be presented at the subsequent board meeting for review and compliance consideration, highlighting any potential non-compliance issues. The disclosure also mentioned that the holding period for the transaction exceeded six months. Should the holding period have been less than six months, the profit equivalent would be deposited with the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015, with intimation to the PSX.

This disclosure is part of the regulatory requirements for listed companies on the PSX, ensuring transparency in transactions executed by directors, CEOs, executives, and substantial shareholders.