AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, A recent transaction on the Pakistan Stock Exchange has highlighted the activity of Muhammad Javed Amin, a Non-Executive Director of First Elite Capital Modaraba. According to information available from the Pakistan Stock Exchange (PSX), Amin purchased 1,000 shares of the company on June 24, 2024, at a rate of PKR 6.24 per share through the Central Depository Company (CDC) in the ready market.
The transaction will be reviewed in the upcoming board meeting of the company. This review will include any potential non-compliance issues as outlined under PSX Regulation clause No. 5.6.1.(d), ensuring that all necessary considerations are addressed as per regulatory requirements.
Moreover, the holding period for this transaction is over six months. If it had been within six months, the company confirmed that a cheque equivalent to the profit would have been deposited with the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015.