Karachi: Habib Bank Limited has publicly disclosed the recent transactions of shares by one of its top executives, as mandated by Pakistan Stock Exchange regulations.

The transactions involved Ms. Fouzia Jabeen Janjua, a General Manager at Habib Bank Limited. According to the disclosure, Ms. Janjua engaged in both buying and selling shares of the bank on July 15, 2024. Specifically, she sold 2,000 shares at a rate of 152.00 PKR per share and bought the same number of shares at 148.90 PKR per share, both through the Central Depository Company (CDC) in the ready market.

According to information available from the Pakistan Stock Exchange (PSX), the bank has confirmed that these transactions will be reviewed in the upcoming board meeting. This review will include discussions on any potential non-compliance issues related to these trades, as stipulated under clause No. 5.6.1(d) of PSX Regulations.

Furthermore, Habib Bank Limited has assured compliance with the Securities Act of 2015. They confirmed that if the transactions occurred within a six-month holding period, the profit earned would be surrendered to the Securities and Exchange Commission of Pakistan (SECP) by depositing a cheque for the profit amount. This process adheres to the requirements under Section 105 of the Securities Act and will be officially reported to PSX.