How soon must a shareholder with more than 1% holding disclose sales of more than 3% of their holding?

A shareholder with more than 1% holding must disclose any sales of more than 3% of their holding within two business days. This requirement is in place to promote transparency in the markets and ensures that other investors are informed about significant changes in ownership that could potentially affect share price and market perception.

The two-day timeframe is established to allow market participants to react to the trading activities of significant shareholders, thereby maintaining an equitable trading environment. This disclosure requirement is part of the regulations that govern market behavior, ensuring that all investors have access to relevant information that could influence their investment decisions. Such regulations are vital for maintaining investor confidence and the overall integrity of the financial markets.