Mari Petroleum Executive Engages in Stock Transactions

Karachi: Mari Petroleum Company Limited has reported that an executive of the company engaged in stock transactions recently. According to information available from the Pakistan Stock Exchange (PSX), the executive, named Muhammad Bilal, bought and sold shares on specific dates, with details provided by the company.

Muhammad Bilal executed a buy order for 38 shares on August 22, 2024, at a rate of PKR 3,275.76 per share, and subsequently sold the same number of shares on August 27, 2024, for PKR 3,300 per share. Both transactions were conducted in the ‘Ready’ market and were documented with the CDC (Central Depository Company) share certificates.

The company confirmed that these transactions would be presented at the next board meeting, complying with the PSX Regulations under clause 5.6.4. It was also noted that if the holding period for these transactions is less than six months, the profit generated would be remitted to the Securities and Exchange Commission of Pakistan (SECP) in the form of a cheque, in compliance with Section 105 of the Securities Act, 2015, with due notification to PSX.

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