Karachi, Transactions involving shares of Altern Energy Limited by a non-executive director have been officially disclosed to the Pakistan Stock Exchange (PSE), in compliance with the regulatory requirements.

The transactions, as reported to the PSE, were executed by Mr. Shah Muhammad Ch., a non-executive director of Altern Energy Limited. On March 26, 2024, Mr. Shah sold 4,500 shares at a rate of 21.48 PKR per share. The following day, on March 27, 2024, he sold an additional 12,000 shares at a rate of 21.15 PKR per share. Both transactions were carried out through the Central Depository Company (CDC) and were marked as ready market transactions.

The company has confirmed that these transactions will be reviewed in the upcoming board meeting. The review will include any non-compliance issues as stipulated by clause No. 5.6.1.(d) of PSX Regulations. Altern Energy Limited has also confirmed adherence to the Securities Act of 2015, noting that the holding period for the shares was over six months. In cases where transactions are within a six-month period, the company assures that profits are managed in compliance with regulatory requirements, including depositing cheques equivalent to the profit with the Securities and Exchange Commission of Pakistan (SECP) under the intimation of the PSX.