Karachi, A substantial transaction involving the shares of Searle Company Limited was disclosed today, as per the requirements set forth in section 5.6.1.(d) of the Pakistan Stock Exchange Regulations.
The transaction was executed by Mr. Shah Muhammad Ch., a Non-Executive Director of Searle Company Limited. On April 24, 2024, Mr. Shah Muhammad sold 850,000 shares of the company at a rate of 58.50 PKR per share. The shares were sold through the Central Depository Company (CDC) at the National Digital Market (NDM).
This significant financial activity will be reviewed in the upcoming board meeting of Searle Company Limited. The meeting will address the transaction details and any potential non-compliance issues as mandated by the PSX regulations.
Additionally, it is confirmed that the holding period for these transactions exceeded six months. If this period had been shorter, profits from the sale would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015, with appropriate notifications to the PSX.