Karachi: Executives at Century Insurance Company Limited have recently engaged in the sale of shares, with transactions being conducted on July 25 and July 26, 2024. According to details disclosed under the Pakistan Stock Exchange (PSX) regulations, Mr. Muhammad Ikram, a notable figure within the company, sold 14,200 shares on July 25 at a rate of Rs 24.50 each and an additional 10,000 shares on July 26 at Rs 24.90 each.

These transactions were carried out electronically through the Central Depository System (CDS) in the regular market. According to information available from the Pakistan Stock Exchange (PSX), these sales are part of the standard disclosures required by directors, CEOs, or executives of listed companies, as well as their spouses and substantial shareholders under clause 5.6.1(d) of PSX regulations.

The company has confirmed that these transactions will be reviewed in the upcoming board meeting, with any potential non-compliance issues to be addressed as mandated by the regulations. Additionally, it has been confirmed that the holding period for these transactions exceeded six months. In scenarios where the holding period is less than six months, profits are required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), accompanied by an intimation to PSX, as stipulated under Section 105 of the Securities Act, 2015.