Karachi: Treet Battery Limited has disclosed a substantial transaction executed by Treet Corporation Limited, a major shareholder, involving the sale of 797,965 shares at a rate of Rs. 18.60 per share on August 13, 2024. The transaction was conducted through the Central Depository Company (CDC) in the ready market.

According to information available from the Pakistan Stock Exchange (PSX), this sale is part of the regulatory disclosures required under clause 5.6.1(d) of the PSX Regulations, which govern the trading activities of directors, CEOs, executives, their spouses, and substantial shareholders. These regulations aim to maintain transparency and integrity in the financial dealings of publicly traded companies.

The details of this significant share transaction will be reviewed in the upcoming board meeting of Treet Battery Limited, with a focus on addressing any potential non-compliance issues as stipulated by the PSX regulations. The company has also confirmed that the holding period for these shares exceeded six months. If the holding period had been less, profits from the transaction would need to be returned to the Securities and Exchange Commission of Pakistan (SECP) as per Section 105 of the Securities Act, 2015, with proper notification to the PSX.