Karachi: An executive of Shell Pakistan Limited has executed a share transaction, according to a recent disclosure required under Pakistan Stock Exchange (PSX) regulations. The transaction was conducted by Muhammad Ahmed Saleem, an executive at the company, on July 5, 2024.

According to information available from the Pakistan Stock Exchange (PSX), Saleem purchased 335 shares at a price of PKR 147.60 each, totaling PKR 49,446. The shares were acquired in the 'Ready' market and are held in the Central Depository Company (CDC) form. This disclosure aligns with the requirements stipulated under clause 5.6.1.(d) of the PSX Regulations, which mandate the reporting of transactions by directors, CEOs, executives, their spouses, and substantial shareholders.

The company has confirmed that this transaction will be reviewed in the upcoming board meeting. Any non-compliance issues identified during this review will be addressed as required by the PSX regulations. Additionally, the company stated that if the holding period for these shares is less than six months, any profit from the sale will be surrendered to the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015.

Shell Pakistan Limited has ensured full compliance with the regulatory framework, affirming that all necessary details of the transaction have been duly reported to the PSX.