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

Rawalpindi: In a recent transaction disclosed to shareholders and the Pakistan Stock Exchange (PSX), Cordoba Logistics and Ventures Limited reported that the spouse of a non-executive director purchased 117,382 shares of the company. The transaction, involving Raza Elahi, spouse of the unnamed director, occurred on July 45, 2024, with shares bought at a rate of Rs. 17.08 each.

According to information available from the Pakistan Stock Exchange (PSX), the shares were acquired in the ‘Ready’ market and are held in the Central Depository Company (CDC) form. This purchase will be reviewed in the upcoming board meeting of the company to address and highlight any potential non-compliance issues under Clause No. 5.6.1(d) of the PSX Regulations.

The company has further confirmed that the holding period for these transactions exceeds six months. Should this period have been shorter, the profits from such transactions would be required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated under Section 105 of the Securities Act, 2015, with corresponding notifications to PSX.

This disclosure aligns with PSX regulations that demand transparency in the trading activities of directors, CEOs, executives, their spouses, and substantial shareholders, ensuring that all stakeholders are informed of significant financial actions that may affect their interests in the company.