Karachi: A significant transaction involving the shares of Meezan Bank Limited was executed by Mr. Shahzad Abdullah, an executive at the bank, according to information available from the Pakistan Stock Exchange (PSX).

On August 13, 2024, Mr. Abdullah sold a total of 10,005 shares of Meezan Bank at varying prices ranging from 238.50 to 240.95 rupees per share. The transactions were conducted through the Central Depository Company (CDC) and were executed on the ready market, ensuring immediate settlement.

The disclosure was made as part of the regulatory compliance under clause No. 5.6.4. of PSX Regulations, which mandates the reporting of substantial transactions by directors, executives, or significant shareholders, as well as their spouses. The transactions are set to be reviewed at the upcoming board meeting of Meezan Bank Limited, fulfilling the requirement to keep the board informed and involved in the oversight of such activities.

This transaction aligns with the PSX regulations that enhance transparency and maintain the integrity of financial activities by listed companies' executives and significant stakeholders.