Karachi: The Pakistan Stock Exchange (PSE) has been notified of a significant transaction by a substantial shareholder in one of the listed companies. Mr. Rafique R. Bhimjee, a substantial shareholder, has bought 390,000 shares at a rate of Rs. 88.00 per share on November 7, 2023. The shares were bought in the form of share certificates through the Central Depository Company (CDC) on the National Defence Market (NDM).

The company has assured that the transaction will be reviewed in the upcoming board meeting, as mandated by clause No. 5.6.4 of PSX Regulations. This will include an examination for any non-compliance issues. Moreover, the company confirms that if the holding period for these shares is less than six months, any profit derived will be handed over to the Securities and Exchange Commission of Pakistan (SECP) in line with Section 105 of the Securities Act, 2015, and this will be duly intimated to the PSX.