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Karachi: Mari Petroleum Company Limited has disclosed share trading activities by one of its executive members, Brig Saad Saeed Naik (Retd), as per regulatory requirements.
On September 5, 2024, Brig Saad Saeed Naik executed multiple share transactions, purchasing a total of 200 shares of Mari Petroleum. The purchases were made at varying rates—36 shares at Rs. 3,666.42 each, 64 shares at Rs. 3,670.42 each, and 100 shares at Rs. 3,669.42 each, all through the Central Depository Company (CDC) in the ready market. According to information available from the Pakistan Stock Exchange (PSX), these transactions are set to be reviewed in the upcoming board meeting, adhering to clause 5.6.4 of PSX Regulations.
The company has confirmed that the holding period for these transactions exceeds six months. However, if any transactions fall within a six-month window, the profits will be surrendered. The equivalent profit amount will be issued via cheque to the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015, and duly reported to PSX.