Cordoba Logistics and Ventures Limited Announces Insider Share Purchase

Lahore: Cordoba Logistics and Ventures Limited has disclosed a notable share transaction by the spouse of a non-executive director, according to a recent notification to shareholders. The transaction took place on July 29, 2024, and involved Raza Elahi, the spouse of Anum Raza, who is a non-executive director of the company.

Raza Elahi purchased 100,000 shares of Cordoba Logistics and Ventures at a rate of Rs. 14.08 per share. The shares were acquired in the form of Central Depository Company (CDC) certificates and were transacted on the Ready Market. According to information available from the Pakistan Stock Exchange (PSX), this move aligns with the regulatory requirements stipulated for insider transactions.

The company confirmed that this transaction will be reviewed in the upcoming board meeting. Any non-compliance issues that may arise will be highlighted and addressed as mandated by clause No. 5.6.1.(d) of PSX Regulations. Additionally, the company assured compliance with the holding period requirements specified under Section 105 of the Securities Act, 2015. Should the shares be sold within six months, the profit from such a transaction is required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a notification to PSX regarding the deposit.

This disclosure comes as part of the company’s commitment to transparency and adherence to the strict regulations governing the conduct of directors, executives, and substantial shareholders within the stock exchange framework.