AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: In a recent communication with the Pakistan Stock Exchange (PSX), Mari Petroleum Company Limited disclosed that several of its executives have engaged in substantial share purchases throughout October 2024, showcasing a robust internal investment in the company’s future.
According to the disclosure, Lt. Col Tariq Mahmood (Retd), an executive at Mari Petroleum, executed multiple share purchases totaling 3,800 shares at prices ranging from Rs. 421.50 to Rs. 409.90. The transactions occurred over several days, indicating a strategic approach to capitalizing on market conditions. Other executives, including Naveed Ahmed, Zaheer Uddin Babar, and Ahmed Salman Kadir, also participated in the buying spree. Ahmed purchased 48 shares at Rs. 413.17 each, Babar acquired 215 shares at Rs. 410.50 each, and Kadir added 500 shares to his portfolio at Rs. 413.80 each.
These transactions will be formally reviewed at Mari Petroleum’s next board meeting, adhering to PSX Regulations’ clause 5.6.4. Furthermore, the company has assured compliance with Section 105 of the Securities Act, 2015, confirming that any profits from sales within a six-month holding period will be appropriately reported and handled with the Securities and Exchange Commission of Pakistan (SECP).
According to information available from the Pakistan Stock Exchange (PSX), these transactions signify a positive sentiment among Mari Petroleum’s executives regarding the company’s performance and governance, potentially serving as a reassuring signal to investors about the company’s stability and growth prospects.