Karachi: S.G. Power Limited, a prominent entity in the power sector, has disclosed a series of share sales by its Chief Executive and Director, Mr. Sohail Ahmed. According to the company's recent filing, Mr. Ahmed sold a significant number of shares on multiple dates in late September 2024.

The transaction details reveal that Mr. Ahmed initiated the sale of 3,000 shares on September 23, followed by 6,000 shares on September 25, 1,500 shares on September 26, and another 1,500 shares on September 27. Each transaction was recorded at different rates and all shares were held in the Central Depository Company (CDC) form.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of a disclosure made to comply with clause 5.6.1 of PSX Regulations, which mandates that any sales of shares by company directors be publicly disclosed to ensure transparency and maintain investor confidence.

This series of sales will be formally presented at the subsequent board meeting of S.G. Power Limited, where they will be reviewed and ratified in accordance with corporate governance norms. This move is part of the ongoing compliance practices that listed companies are required to follow to provide clear and transparent operations for their stakeholders.

The specifics of the transactions, including the exact sale rates and the total value involved, were not disclosed in the notice but are expected to be detailed in the board’s next meeting.