Karachi: The Searle Company Limited has announced a notable transaction executed by one of its executives, Moujood Ul Hassan, on August 13, 2024. According to information available from the Pakistan Stock Exchange (PSX), this purchase involved 440 shares at a rate of Rs. 57.37 per share through the Central Depository Company (CDC) in the Ready Market.

The transaction will be reviewed in the upcoming board meeting of The Searle Company Limited. The board is expected to examine any potential non-compliance issues related to the trading activity as per clause No. 5.6.1.(d) of PSX Regulations. The company confirmed that necessary actions are taken to address any discrepancies and to uphold regulatory standards.

Additionally, The Searle Company has ensured that the transaction adheres to the holding period requirement of over six months mandated by the Securities Act, 2015. In cases where transactions occur within this period, the company stated that a cheque equivalent to the profit would be submitted to the Securities and Exchange Commission of Pakistan (SECP), maintaining compliance and transparency as required by law.

This proactive approach by The Searle Company highlights its commitment to rigorous compliance and governance standards, ensuring that all executive transactions are transparent and in line with statutory regulations. The disclosure reiterates the company’s adherence to ethical trading practices within the framework of Pakistan’s financial regulations.