Faisalabad: Interloop Limited has disclosed that an executive of the company, Tariq Rashid Malik, executed multiple transactions to sell shares in the company over a span of three days in August 2024. These transactions were conducted under compliance with PSX regulations and will be reviewed by the company’s board in an upcoming meeting.

On August 21, 2024, Malik sold 50,000 shares at a rate of Rs. 70.55 per share in the CDC Ready market. The following day, August 22, 2024, he executed a second transaction, selling 42,500 shares at Rs. 71.40 per share. Malik completed a third transaction on August 23, 2024, with the sale of 7,500 shares at Rs. 71.74 per share, bringing the total number of shares sold to 100,000.

According to information available from the Pakistan Stock Exchange (PSX), the transactions were conducted in compliance with Clause No. 5.6.1(d) of the PSX Regulations. Interloop Limited has confirmed that the holding period for these transactions exceeded six months, as required under Section 105 of the Securities Act, 2015. Any non-compliance, if identified, will be presented to the board during its next meeting. In the event of any transactions within the six-month holding period, Interloop Limited will ensure that the required profit is deposited with the Securities and Exchange Commission of Pakistan (SECP), with confirmation to PSX.

These disclosures reflect adherence to regulatory requirements and will be reported in detail during the upcoming board meeting for further consideration.