Attock Petroleum CFO Buys Company Shares Amid Regulatory Compliance

Karachi: The Chief Financial Officer and Alternate Director of Attock Petroleum Limited, Mr. Rehmat Ullah Bardaie, purchased 9,000 shares of the company on June 28, 2024, at a rate of Rs. 386.83 per share, according to a recent disclosure. The transaction was conducted through the Central Depository Company (CDC) on a ready basis, increasing Bardaie’s total holdings to 77,756 shares, representing 0.062% of the company’s shareholding.

This transaction is set to be reviewed in the upcoming board meeting to address any potential non-compliances with Clause No. 5.6.4 of the PSX Regulations. According to information available from the Pakistan Stock Exchange (PSX), the company has confirmed that the holding period for these shares is over six months. Should it have been within six months, any profit from the transaction would be required to be returned to the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015, with appropriate notification to the PSX.

The transaction underscores the ongoing financial activities within the company’s upper echelons, which are closely monitored under current regulatory frameworks to ensure transparency and compliance.