Nepse Instructs Listed Companies To Suspend Purchase/Sale Of Shares By Directors & Management
December 15, 2022 | Investopaper
Nepal Stock Exchange (NEPSE) has given instructions to restrict the purchase and sale of shares of directors and officers of listed companies.
According to Rule 38 (1 a) of the Securities Registration and Issuance Regulations 2079, Nepse has directed on Wednesday to freeze the shares of the company’s managing director, executive head, auditor, company secretary or employees involved in the management and accounting.
In addition, the shares of the concerned company or its subsidiary company are prohibited to be bought and sold or transferred in the name of a firm, company or organization under the control of such persons.
NEPSE has also asked to suspend the shares within 15 days. There is a provision that the shares should be withheld during the tenure of the post or for one year after retiring from such post.
