Karachi: Shell Pakistan Limited announced a significant transaction involving the sale of company shares by an executive. On September 24, 2024, Danish Mukarram, an executive at Shell Pakistan, sold 600 shares at a rate of PKR 1551.11 per share. This transaction was conducted through the Central Depository Company (CDC) and was marked as “Ready” indicating immediate execution.
According to information available from the Pakistan Stock Exchange (PSX), this disclosure follows the requirements of PSX Regulation 5.6.4, ensuring transparency in transactions made by directors and major shareholders. The sale did not alter the cumulative percentage ownership in the company, remaining at 0.00%, which indicates that this transaction did not lead to a significant change in ownership percentages.
Shell Pakistan has complied with all regulatory requirements, including reporting this transaction to the Securities and Exchange Commission of Pakistan (SECP) and ensuring adherence to the holding period and profit sharing stipulations under the Securities Act of 2015. The company emphasized its commitment to maintaining transparency and adhering to corporate governance norms by updating all necessary information in the UIN Management System, as stipulated by the PSX regulations.