Cordoba Logistics and Ventures Limited Reports Internal Share Transaction by Director’s Spouse

Karachi: In compliance with Pakistan Stock Exchange (PSX) regulations, Cordoba Logistics and Ventures Limited has disclosed a significant internal share transaction involving the spouse of a non-executive director. The transaction, which was part of the trading activities on January 2, 2024, involved Raza Elahi, the spouse of Anum Raza, who is a Non-Executive Director at the company.

According to information available from the Pakistan Stock Exchange (PSX), Elahi purchased 6,000 shares of Cordoba Logistics and Ventures at a rate of 17.02 per share. These shares were acquired in the Ready market and are held in the Central Depository Company (CDC) form.

The company confirmed that this transaction will be reviewed at the upcoming board meeting. This review will include discussions on any potential non-compliance with PSX Regulation 5.6.1.(d), which governs transactions by directors, chief executive officers, executives, their spouses, and substantial shareholders.

Further, Cordoba Logistics and Ventures assured compliance with the Securities Act of 2015. If the shares are sold within six months of purchase, the profit from this transaction must be returned to the Securities and Exchange Commission of Pakistan (SECP) via a cheque, a requirement meant to prevent insider trading. This assurance underscores the company’s commitment to transparency and adherence to legal standards regarding share transactions.

The post Cordoba Logistics and Ventures Limited Reports Internal Share Transaction by Director’s Spouse appeared first on .