Blue Director Purchases Shares Amid Regulatory Compliance Disclosures

Karachi: In a recent transaction dated August 2, 2024, Safina Danish Etahi, a Director at Blue, has purchased 10,385 shares of the company at a rate of 67.88 Rupees per share. This transaction was conducted through CDC (Central Depository Company) registered share certificates.

According to information available from the Pakistan Stock Exchange (PSX), the transaction will be reviewed at the subsequent board meeting of Blue. The review will include an examination of any non-compliance with PSX Regulations, specifically clause No. 5.6.1(d), which requires such transactions to be disclosed and scrutinized for compliance.

The company has confirmed that the holding period for these shares exceeds six months. Should the holding period have been under six months, any profit from these transactions would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015.

This strategic acquisition by a significant insider at Blue not only highlights the ongoing compliance with regulatory requirements but also underscores the confidence of leadership in the company’s future prospects.

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