Blue Company Director Executes Share Purchase Under Regulatory Compliance

Islamabad: Blue, a listed entity on the Pakistan Stock Exchange, has reported a share acquisition by one of its directors, Safina Danish Elahi, on July 18, 2024. The transaction involved the purchase of 23,852 shares at a rate of Rs. 33.96 each, conducted through the Central Depository Company (CDC) in the regular market.

According to information available from the Pakistan Stock Exchange (PSX), this transaction is part of the standard trading activities but will be reviewed in the company’s subsequent board meeting to ensure there are no breaches of compliance as mandated under Clause No. 5.6.1(d) of the PSX Regulations.

The company has confirmed that the holding period for these transactions extends beyond six months. If it had been shorter, any profit realized from the sale of these shares within that timeframe would be subject to a regulatory procedure. Specifically, the profit would need to be surrendered to the Securities and Exchange Commission of Pakistan (SECP), in accordance with Section 105 of the Securities Act, 2015, with appropriate notifications made to the PSX.

This disclosure not only adheres to the necessary regulatory frameworks but also ensures transparency in the dealings of company executives with its shares, aiming to maintain investor confidence and market integrity.