B.F. Modaraba Executive Director Buys Shares in Compliance with PSX Regulations

Karachi: In a recent transaction recorded on August 5, 2024, Mohammad Omar Bawany, Executive Director of B.F. Modaraba, acquired 42,863 shares at a rate of 11.74 per share. According to information available from the Pakistan Stock Exchange (PSX), this transaction has been executed in accordance with PSX regulations under clause No. 5.6.1(d), which mandates disclosure of interest by directors, CEOs, executives, their spouses, and substantial shareholders.

The transaction was conducted through the Central Depository Company (CDC), reflecting a continued interest and confidence in the company’s performance within the non-designated market (NDM) category. This purchase will be reviewed in the upcoming board meeting where any non-compliance issues will be addressed as mandated by PSX regulations.

B.F. Modaraba has confirmed that the holding period for these transactions exceeds six months. However, should the holding period be less than six months, a cheque equivalent to the profit will be deposited with the Securities and Exchange Commission of Pakistan (SECP) as per Section 105 of the Securities Act, 2015, with formal intimation to PSX. This ensures transparency and adherence to regulatory standards, safeguarding stakeholder interests.

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