Kohinoor Energy Limited Executive Purchases Shares: Compliance Details Announced

Islamabad, Kohinoor Energy Limited has disclosed a significant share purchase by one of its directors to the Pakistan Stock Exchange (PSE), adhering to the regulatory requirements outlined in the PSX Regulations, particularly under clause 5.6.I.(d).

The announcement revealed that Muhammad Omer Farooq, serving as a Director at Kohinoor Energy Limited, executed a transaction on March 28, 2024, acquiring 14,000 shares at a rate of 37.21 PKR per share. This transaction was conducted through the Central Depository Company (CDC), ensuring transparency and compliance with market regulations.

Kohinoor Energy Limited confirmed its commitment to regulatory adherence by stating that this transaction would be thoroughly reviewed in the upcoming board meeting. Any non-compliance issues identified will be highlighted and addressed. The company also assured that it follows the prescribed holding period of over six months for such transactions. In instances where this period is not met, Kohinoor Energy is prepared to deposit the equivalent profit amount with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015, and will duly notify the PSE.