KARACHI - United Bank Limited (UBL) has announced that its 253rd Board of Directors meeting is scheduled for Sunday, December 22, 2024, at 10:00 a.m. in Karachi, where the main agenda will be to consider and approve the bank's budget for the year 2025.
In compliance with the Pakistan Stock Exchange (PSX) regulations, UBL has declared a "Closed period" from December 13, 2024, to December 20, 2024. During this time, directors, the CEO, and executives are prohibited from trading shares of the bank.
This procedural move aligns with Clause 5.6.4 of the PSX Regulation, which is designed to prevent insider trading and maintain market integrity. The closed period is a standard practice ahead of significant corporate events, such as board meetings where sensitive financial decisions and forecasts are discussed.
The announcement of the board meeting and the closed period has been communicated to relevant parties, including the Pakistan Stock Exchange in Karachi and the London Stock Exchange (LON:LSEG) in the UK, as well as the Commissioner of the Enforcement & Monitoring Division at the Securities and Exchange Commission of Pakistan (SECP) in Islamabad.
This information is based on a press release statement and is intended to keep shareholders and the market informed of the bank's corporate governance practices and upcoming financial planning activities. It is not an endorsement or promotion of UBL's market position or future prospects.
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