Islamabad: Packages Limited has announced a significant share acquisition involving a high-ranking executive's spouse. This transaction was carried out in compliance with the PSX Regulations under clause No. 5.6.1(d).

On July 23, 2024, Mrs. Perwin Babar Ali, spouse of Wed Babar Ali, an executive at Packages Limited, purchased 18,600 shares of the company at a price of PKR 532.20 per share. The transaction involved shares registered through the Central Depository Company (CDC) and was conducted on the Ready Market.

According to information available from the Pakistan Stock Exchange (PSX), the company confirmed that this transaction would be reviewed at the next board meeting to ensure compliance with all relevant regulations. This includes a review of any potential non-compliance issues as mandated by clause No. 5.6.1(d) of PSX Regulations. Additionally, the company affirmed that if the holding period of the shares is less than six months, any profits derived from this transaction would be surrendered to the Securities and Exchange Commission of Pakistan (SECP), as per the requirements of Section 105 of the Securities Act, 2015.

Packages Limited's disclosure underscores its commitment to transparency and adherence to regulatory standards, providing clarity and confidence for its shareholders and regulatory bodies.