Khawaja Usman Arif Acquires Significant Stake in Oilboy Energy Limited

Karachi: A major transaction in the energy sector unfolded as Khawaja Usman Arif disclosed acquiring 14.82% of the voting shares of Oilboy Energy Limited. The purchase was completed on July 30, 2024, according to the regulations stipulated under Section 110(1) of the Securities Act, 2015.

This significant acquisition of 3,704,517 ordinary shares was officially reported to the Pakistan Stock Exchange, Securities and Exchange Commission of Pakistan, and the management of Oilboy Energy Limited. Khawaja Usman Arif, previously not holding any shares in the company, has now emerged as a prominent stakeholder.

According to information available from the Pakistan Stock Exchange (PSX), this move by Arif has positioned him notably within the corporate structure of Oilboy Energy Limited. The disclosure was mandated by the securities law, ensuring transparency in shareholding changes that could influence company control.

This transaction has been recorded and communicated to all relevant parties, including TRC Holders of the Pakistan Stock Exchange, to ensure adherence to legal and regulatory frameworks. The details of this acquisition were also disseminated to the management of Oilboy Energy Limited, based in Lahore, further highlighting the compliance with the required financial disclosure practices.

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