Peshawar: The Bank of Khyber has announced a further rescheduling of its upcoming Board meeting, initially set for September 27, 2024. The revised date for the meeting is now September 26, 2024, to be held in Peshawar at 11:00 a.m.
The original announcement, made on September 11, 2024, notified stakeholders of a board meeting slated for later in the month, which has since undergone a scheduling change. The bank has not disclosed specific reasons for the adjustment in timing.
In connection with the board meeting, The Bank of Khyber has declared a "Closed Period" from September 20 to September 26, 2024. During this period, stipulated by Clause 5.6.4 of the Pakistan Stock Exchange (PSX) regulations, no director, CEO, or executive is permitted to deal directly or indirectly with the bank’s shares.
According to information available from the Pakistan Stock Exchange (PSX), this measure is designed to prevent insider trading and maintain market integrity during significant corporate decisions. The TRE Certificate Holders of the exchange have been instructed to note the changes in the meeting’s scheduling and the stipulated closed period.
The rescheduling of this strategic meeting aligns with corporate governance practices that ensure all regulatory requirements are met while minimizing potential conflicts of interest during pivotal decision-making processes.