Karachi: A notable transaction involving shares of Treet Battery Limited was executed on September 6, 2024, by a substantial shareholder, as mandated by Pakistan Stock Exchange (PSX) regulations. According to information available from the Pakistan Stock Exchange (PSX), the transaction was carried out by Treet Corporation Limited, classified as a substantial shareholder, and involved the sale of 2.30 million shares priced at PKR 17.03 each. The shares were sold in the ready market, with the transaction facilitated through CDC share certificates.
The transaction is set to be reviewed in the upcoming board meeting of Treet Battery Limited, where any non-compliance issues highlighted will be addressed as required under clause No. 5.6.4 of PSX Regulations. The company has confirmed that the holding period for the shares was over six months. In compliance with Section 105 of the Securities Act, 2015, if the holding period had been under six months, the profit would have been subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP), duly intimated to PSX.
This sale reflects ongoing compliance and transparency in the dealings of executives and significant shareholders within the Pakistani corporate sector, specifically within the regulations set forth by the Pakistan Stock Exchange.