Karachi: Mian Faisal Iftikhar, Executive Director at Panther Tyres Limited, completed a sale of 28,995 shares on June 28, 2024, with each share priced at 37.63.
According to information available from the Pakistan Stock Exchange (PSX), the transaction was carried out in a ready market through CDC certificates. This financial move by Mian Faisal Iftikhar is part of the trading activities that are closely monitored under PSX regulations.
The details of this transaction are scheduled to be presented and reviewed in the forthcoming board meeting of Panther Tyres Limited. This review will assess any potential non-compliance issues as per the requirements of clause No.5.6.1.(d) of the PSX Regulations.
The company has ensured that the holding period for these shares exceeded six months. Had the holding period been shorter, the executive was prepared to deposit a cheque for the equivalent amount of any profits to the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015, as part of the financial integrity measures in place.
This transaction highlights the rigorous oversight and transparency upheld by entities and their executives in the Pakistani financial markets.