Karachi: Ghandhara Industries Limited disclosed a significant transaction involving its shares by Ghandhara Automobiles Limited, a substantial shareholder, as per the regulations of the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), the transaction occurred on August 24, 2024, involving the sale of 250,000 shares at a rate of 426.49 each through the Central Depository Company (CDC) in the Ready Market. This sale, as part of the compliance with the PSX regulations under clause No. 5.6.1.(d), will be reviewed in the upcoming board meeting to address and highlight any potential non-compliances.

The company confirmed that the holding period for these shares exceeded six months. If the shares had been held for less than six months, profits from the transaction would have been required to be submitted to the Securities and Exchange Commission of Pakistan (SECP) with an accompanying cheque, in accordance with Section 105 of the Securities Act, 2015. Ghandhara Industries has assured the PSX of their compliance with the necessary regulatory requirements.