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Karachi, First Elite Capital Modaraba has reported significant share transactions by key insiders, including a non-executive director and a substantial shareholder, according to filings required under clause No. 5.6.1.(d) of the Pakistan Stock Exchange (PSX) Regulations.
On June 20 and 21, 2024, Muhammad Javed Amin, a non-executive director, purchased shares in two separate transactions—buying one share at Rs. 3.94 and 3,000 shares at Rs. 5.26, respectively. Additionally, on June 21, Nauman Rathore, identified as a substantial shareholder, acquired 53,860 shares at a rate of Rs. 5.22. All transactions were conducted through the Central Depository Company (CDC) in the ready market.
According to information available from the Pakistan Stock Exchange (PSX), these transactions are disclosed to ensure transparency and adherence to regulations concerning insider trading. Such disclosures are crucial for maintaining investor confidence and market integrity.
The company has stated that these transactions will be reviewed in the upcoming board meeting to address any potential non-compliance issues and to ensure that all actions are in accordance with PSX regulations. Furthermore, the company confirms that the holding period for these transactions exceeds six months. In compliance with Section 105 of the Securities Act, 2015, if any shares are sold within six months, the profits will be returned to the Securities and Exchange Commission of Pakistan (SECP), with a corresponding notification to the PSX.