Karachi: In a recent transaction at the Pakistan Stock Exchange (PSX), Mr. Zaheer Baweja, a Non-Executive Director of Pakistan Hotels Developers Limited, sold 37,628 shares of the company on July 10, 2024. The shares were sold at a rate of 68,237 PKR per share, through the Central Depository Company (CDC) in the ready market.

The transaction has been confirmed to be presented at the subsequent board meeting. This presentation will include a discussion of any non-compliances as required under clause No. 5.6.1(d) of PSX Regulations. According to information available from the Pakistan Stock Exchange (PSX), the company has also confirmed that the holding period for these transactions exceeded six months. In the event that such transactions had occurred within a six-month period, a check equivalent to the profit would have been deposited with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015, with a notification to PSX.

This disclosure aligns with the regulatory requirements concerning the trading activities of directors, CEOs, executives, their spouses, and substantial shareholders under the PSX regulations.