Karachi: Treet Battery Limited has disclosed significant share transactions by its substantial shareholder, Treet Corporation Limited, which took place on August 7 and August 8, 2024. These transactions involved the sale of a large number of shares, triggering disclosure under the Pakistan Stock Exchange (PSX) regulations.

According to information available from the Pakistan Stock Exchange (PSX), Treet Corporation Limited sold 1,604,890 shares on August 7 at a rate of PKR 19.26 per share and an additional 449,000 shares on August 8 at PKR 18.92 per share. Both transactions were conducted in the ready market and registered through the Central Depository Company (CDC).

These sales are part of the required disclosures under clause No. 5.6.1(d) of the PSX Regulations, which mandate that any transactions executed by directors, CEOs, executives, their spouses, or substantial shareholders be reported and reviewed for compliance. The transactions will be presented at the subsequent board meeting for further consideration and to address any non-compliance issues.

Treet Battery Limited also confirmed that the holding period for these transactions was over six months. In compliance with Section 105 of the Securities Act, 2015, if the holding period had been less than six months, the profits would have been subject to a cheque deposit with the Securities and Exchange Commission of Pakistan, a measure designed to prevent short-term speculative trading by insiders.