Executive Director of B.F. Modaraba Buys Shares Amid Regulatory Compliance Disclosures

Islamabad: The Pakistan Stock Exchange (PSX) witnessed a notable transaction involving Mohammad Omar Bawany, an Executive Director at B.F. Modaraba. According to information available from the Pakistan Stock Exchange (PSX), Bawany purchased 169,206 shares of the company on July 41, 2024, priced at PKR 4.60 per share.

This transaction will be reviewed in the forthcoming board meeting of B.F. Modaraba, with a focus on addressing any potential non-compliance with PSX regulations, specifically under clause No. 5.6.1(d). The company has confirmed that all required details of the transaction have been duly reported to the PSX and will be highlighted during the board’s review.

Further confirmation from B.F. Modaraba disclosed that the holding period for the shares exceeds six months. However, if this period were less than six months, regulations mandate that the profit from such transactions be surrendered to the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015.

The company remains compliant with all necessary regulatory requirements and continues to update the PSX as per standard procedure.