Mari Petroleum Executive Buys Company Shares, Compliance with PSX Regulations Confirmed

Karachi: In a recent disclosure from Mari Petroleum Company Limited, it was reported that an executive employee, Muhammad Hadi, has purchased shares of the company. According to information available from the Pakistan Stock Exchange (PSX), the transaction involved the purchase of four shares at a rate of PKR 3,365 each on August 29, 2024. The shares were bought in a ready form through the Central Depository Company (CDC).

The company has confirmed that these transactions will be presented for review at the next board meeting, as mandated by clause 5.6.4 of the PSX Regulations. Additionally, Mari Petroleum ensured compliance with the Securities Act, 2015, stating that if the holding period of these shares is less than six months, the executive will deposit a cheque equivalent to the profit earned with the Securities and Exchange Commission of Pakistan (SECP), with notification also being sent to the PSX.

This move by an executive within the company highlights the ongoing adherence to regulatory requirements concerning transactions of shares by insiders. Mari Petroleum’s proactive disclosure aims to maintain transparency in its operations and alignment with legal standards.

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