Karachi: A significant share transaction within BAWANYAIRPRODUCTS Limited was reported on August 1, 2024, involving a key figure from the company's board. According to information available from the Pakistan Stock Exchange (PSX), Weavers Pakistan (Private Limited), classified as a substantial shareholder, purchased 14,000 shares at a rate of 33.44 per share through the Central Depository Company (CDC).

The company has confirmed that this transaction will be reviewed in the upcoming board meeting. This review will include an examination of any potential non-compliance with PSX Regulation 5.6.1.(d), which governs the disclosure of interest by directors, CEOs, executives, their spouses, and substantial shareholders.

Furthermore, BAWANYAIRPRODUCTS Limited assured that the holding period for these shares exceeds six months. If it had been less than six months, the profit from the transaction would be required to be surrendered to the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act of 2015, with a notification to PSX regarding the same.