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Karachi, Transactions have been recorded involving key figures at First Elite Capital Modaraba. A Non-Executive Director, Muhammad Javed Amin, and a substantial shareholder, Nouman Rathore, made significant share purchases on May 31, 2024.
According to information available from the Pakistan Stock Exchange (PSX), Muhammad Javed Amin acquired 7,000 shares at a rate of 4.51 per share, while Nouman Rathore purchased 18,795 shares at a price of 4.23 each. Both transactions were conducted through the CDC in the ready market.
The company confirmed that these transactions would be addressed in the upcoming board meeting, with any non-compliances highlighted for consideration, as mandated under clause No. 5.6.1.(d) of PSX Regulations. Additionally, it was noted that if the holding period for these transactions is less than six months, any profits would be remitted to the Securities and Exchange Commission of Pakistan (SECP) via cheque, in compliance with Section 105 of the Securities Act, 2015.