Mari Petroleum Executive Reports Multiple Share Purchases

Islamabad: An executive at Mari Petroleum Company Limited has engaged in multiple transactions to buy shares of the company, according to a disclosure made today. The transactions, as detailed by the executive, Brig Saad Saeed Naik, occurred on August 23 and August 26, 2024. According to information available from the Pakistan Stock Exchange (PSX), these purchases are scheduled to be reviewed in the company’s next board meeting in compliance with PSX regulations.

On August 23, Brig Naik purchased shares three times—51 shares at a rate of Rs. 3,271, 149 shares at Rs. 3,272, and 500 shares at Rs. 3,262. On August 26, he continued buying, acquiring 84 shares at Rs. 3,260 and 216 shares at Rs. 3,257. All transactions were carried out through the Central Depository Company (CDC) and were in ready form.

The company has confirmed that all transactions will be presented for review at the forthcoming board meeting as stipulated under clause 5.6.4 of the PSX Regulations. Furthermore, they assured that any profits from these transactions within a six-month holding period will be dealt with in accordance with Section 105 of the Securities Act, 2015, which requires such profits to be deposited with the Securities and Exchange Commission of Pakistan (SECP), with proper intimation to PSX.

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