AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: An executive of Mari Petroleum Company Limited has recently engaged in a share transaction, the company disclosed in a recent statement to the Pakistan Stock Exchange (PSX).
Arslan Bin Shahid, listed as an executive of the company, purchased 100 shares on July 10, 2024. The shares were bought at a rate of 2,660 per share and registered through the Central Depository Company (CDC) in the ready market.
According to information available from the Pakistan Stock Exchange (PSX), this transaction will be presented for review at the upcoming board meeting, as mandated by clause 5.6.4 of PSX Regulations. The company also confirmed that the holding period for these shares exceeds six months. Should any transaction fall within a six-month period, the company is prepared to deposit the equivalent of the profits with the Securities and Exchange Commission of Pakistan (SECP), adhering to Section 105 of the Securities Act, 2015.
This disclosure aligns with the regulatory requirements that aim to ensure transparency and maintain investor confidence in the market practices of listed companies.