Karachi: The Pakistan Stock Exchange (PSX) has reported that Mr. Shariq Mubeen, an executive of Meezan Bank Limited, executed transactions involving the sale of shares in the bank on consecutive days in October. This disclosure is in compliance with PSX Regulation 5.6.4, which mandates the reporting of share transactions by relevant persons within listed companies.

On October 22, 2024, Mr. Mubeen sold 1,291 shares of Meezan Bank at a rate of PKR 241.41 per share. The following day, October 23, 2024, he sold an additional 7,000 shares at a slightly higher rate of PKR 241.65 per share. These transactions have reduced his cumulative shareholding to 9,054 shares, which represents 0% of the total shares of the bank.

According to information available from the Pakistan Stock Exchange (PSX), such disclosures are part of regulatory measures aimed at ensuring transparency and accountability in the financial markets. The transactions involved the transfer of shares held in the Central Depository Company (CDC) in the ready market.

This disclosure highlights the ongoing regulatory requirements for executives and key stakeholders of publicly listed companies to report their share dealings, ensuring that the market remains informed and compliant with established regulations.