AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: A significant transaction involving shares of the First Paramount Modaraba has been disclosed. The transaction was made by Asif Nathan, a substantial shareholder, involving the purchase of 22,935 shares at a rate of 7.85 per share. The transaction occurred in the market-ready form of share certificates and was facilitated through CDC (Central Depository Company).
According to information available from the Pakistan Stock Exchange (PSX), the shares were acquired on a specified date and the details of this transaction will be presented at the subsequent board meeting. The board will review any potential non-compliances as mandated by clause No. 5.5.1.(d) of PSX Regulations and will report back to the exchange.
It is further confirmed that the holding period for these transactions is over six months. In compliance with Section 105 of the Securities Act, 2015, if the shares were sold within six months, the cheque equivalent to the profit would be deposited with SEOP as required, under intimation to PSX.