AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Blue-Ex Limited (GEM), a listed company on the Pakistan Stock Exchange, disclosed a significant stock transaction executed by its Director, Safina Danish Elahi, on July 19, 2024. According to the disclosure required under clause 5.6.4 of PSX Regulations, Elahi purchased 1,202 shares of the company at a rate of PKR 37.19 per share.
The transaction was conducted in the form of CDC share certificates and falls within the guidelines set by the Securities Act, 2015. According to information available from the Pakistan Stock Exchange (PSX), the company confirmed that the said transaction will be reviewed in the subsequent board meeting to address any potential non-compliance issues as stipulated under clause No. 5.6.1(d) of PSX Regulations.
Blue-Ex Limited further assured that if the holding period for the shares is less than six months, the profit derived from any potential sale of these shares would be deposited with the Securities and Exchange Commission of Pakistan (SECP), complying with Section 105 of the Securities Act, 2015. This is to ensure transparency and adherence to the regulatory framework designed to maintain market integrity.