Karachi: Crescent Jute Products Limited has officially reported a series of share transactions executed by The Crescent Textile Mills Ltd, a substantial shareholder, according to the compliance requirements outlined in clause 5.6.1.(4) of the PSX Regulations. These transactions, which occurred between June 28, 2024, and July 10, 2024, involved significant amounts of shares being sold at varying prices.

According to information available from the Pakistan Stock Exchange (PSX), the transactions began on June 28, 2024, with The Crescent Textile Mills Ltd selling 155,200 shares at a rate of PKR 3.08 each. The transactions continued over several days, with the largest single sale happening on July 3, 2024, involving 220,000 shares at PKR 3.26 each. The rates for these sales ranged from PKR 3.03 to PKR 3.81.

The detailed report from Crescent Jute Products Limited indicates that all shares were in the Central Depository Company (CDC) ready form, which facilitates faster and more secure transactions. The report also states that these transactions will be thoroughly reviewed in the upcoming board meeting, with particular attention to any potential non-compliance issues as per PSX regulations.

Furthermore, the company has confirmed that if any of these transactions occurred within a six-month holding period, the profit generated would be subjected to the appropriate regulations under Section 105 of the Securities Act, 2015. In such cases, a cheque equivalent to the profit must be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a corresponding notification to the PSX.