Karachi: Treet Corporation Limited, a substantial shareholder in Treet Battery Limited, has recently executed significant share sales, as disclosed in compliance with PSX Regulations under clause No. 5.6.1(d). The transactions, completed on August 30 and September 2, 2024, involved the sale of over 1.58 million shares.
On August 30, Treet Corporation Limited sold 759,583 shares at a rate of PKR 17.82 each. Following this, on September 2, they sold an additional 826,450 shares, priced at PKR 17.49 each. Both sets of transactions were conducted through the Central Depository Company (CDC) in the ready market.
According to information available from the Pakistan Stock Exchange (PSX), these transactions are set to be reviewed in the forthcoming board meeting of Treet Battery Limited. The review will include an examination of any potential non-compliance issues related to the sales.
The company has also confirmed that the holding period for these transactions exceeded six months. In cases where the holding period does not meet this duration, profits are required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015, with subsequent notification to the PSX.
These transactions highlight significant activity by major shareholders and are critical for maintaining transparency and regulatory compliance in the market.