First Punjab Modaraba Board Meeting Rescheduled to June 24

Karachi, The Board of Directors meeting for First Punjab Modaraba, initially set to review and approve the accounts for the quarter ended March 31, 2024, has been rescheduled to Monday, June 24, 2024. This adjustment follows a prior notification issued on June 14, indicating plans for this significant financial review.

According to information available from the Pakistan Stock Exchange (PSX), the rescheduling maintains the closed period as previously determined under Clause 5.6.4 of the PSX Regulations. During this period, all directors, executives, and insiders are restricted from trading shares of Modaraba to uphold the integrity of the financial disclosures and prevent any potential misuse of insider information.

The delay in the scheduled board meeting underscores the meticulous approach First Punjab Modaraba is taking in finalizing its financial statements, ensuring accuracy and compliance with regulatory standards. This meeting is critical as it will confirm the financial performance of the company for the last quarter, setting the tone for future business strategies and investor confidence.

Stakeholders and certificate holders of the exchange have been duly informed to ensure transparency and adherence to regulatory requirements during this pivotal period in the company’s financial calendar.