Karachi, Silkbank Limited has officially announced that a meeting of its Board of Directors is scheduled to take place on September 12, 2023, in Islamabad. The primary agenda for this meeting, as disclosed by the bank, is to discuss matters other than financial results.
In compliance with Clause 5.6.1 (d) of the Pakistan Stock Exchange (PSX) Regulations, Silkbank Limited has declared a "Closed Period" from September 06, 2023, through September 12, 2023. During this period, no Director, CEO, or Executive of the bank shall, directly or indirectly, engage in any dealings related to the bank's shares.
The declaration of a Closed Period is a standard practice in the financial industry, aimed at maintaining market integrity and ensuring that all investors have equal access to information that may affect a company's stock price. It restricts key individuals within the organization from trading the company's shares or disclosing non-public information during this sensitive period.
Silkbank Limited remains committed to adhering to regulatory requirements and upholding transparency in its operations. The Board of Directors' meeting on September 12, 2023, will provide an opportunity for strategic discussions on important matters, contributing to the bank's long-term growth and stability.
Shareholders and stakeholders are encouraged to stay informed about developments related to Silkbank Limited and to monitor official communications from the bank for updates on the outcomes of the Board of Directors' meeting and any other significant news during this Closed Period.