Karachi: The Pakistan Stock Exchange disclosed today that an executive at Nimir Industrial Chemicals Limited, identified as Salman Azmat, has recently conducted multiple transactions involving the company's shares. According to the details released, the executive sold a total of 25,000 shares on July 31, 2024, in various tranches.
The transactions were carried out electronically through the Central Depository Company (CDC), with prices per share ranging from Rs. 124.00 to Rs. 124.95. Specifically, Salman Azmat sold 16,000 shares at Rs. 124.00, 4,000 at Rs. 124.01, another 4,000 at Rs. 124.02, and 1,000 shares at Rs. 124.95.
According to information available from the Pakistan Stock Exchange (PSX), these transactions were conducted following the guidelines stipulated in Regulation No. 5.6.1(d) of the PSX regulations. This regulation ensures that executives’ transactions are transparent and compliant with market rules. The PSX has confirmed that the holding period for these transactions exceeded six months. If any transactions had occurred within six months, the executive would be required to deposit cheques equivalent to the profit with the Securities and Exchange Commission of Pakistan (SECP), as mandated under Section 105 of the Securities Act, 2015.
This proactive disclosure by the PSX aims to maintain transparency and uphold the integrity of trading activities, ensuring that all regulatory requirements are meticulously observed.