Karachi: In accordance with clause 5.6.4 of the Rule Book of the Pakistan Stock Exchange, significant trading activity involving shares of Javedan Corporation Limited (JCL) has been reported by Arif Habib Equity (Pvt) Limited and Arif Habib Corporation Limited, both substantial shareholders.

Arif Habib Equity (Pvt) Limited executed two major sales, offloading 25,000,000 shares on July 29, 2024, and 50,000,000 shares on July 30, 2024, both at a rate of 39.75. In contrast, Arif Habib Corporation Limited purchased an equal number of shares on the same dates, thus maintaining the overall shareholding structure within the group.

The group's combined ownership remains unchanged, securely holding more than fifty percent of JCL's shareholding directly or in combination with other sponsors, thereby ensuring continued control over the company.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are set to be reviewed at the upcoming board meeting as stipulated by the PSX regulations. Further details confirm that these transactions meet the regulatory requirement of a holding period exceeding six months. If any profits arise from sales within six months, they will be addressed as mandated by Section 105 of the Securities Act, 2015, with profits to be deposited to the Securities and Exchange Commission of Pakistan (SECP).

This ongoing compliance with PSX regulations highlights the strategic financial maneuvers within Arif Habib Group, while maintaining transparency and adherence to governance norms.