Mari Petroleum Executives Report Stock Transactions

Karachi: Executives and associated persons of Mari Petroleum Company Limited have disclosed trading in the company’s shares, involving significant transactions that will be reviewed in the upcoming board meeting.

According to information available from the Pakistan Stock Exchange (PSX), the executives and their spouses reported buying shares on September 18 and 19, 2024. The transactions occurred in the Ready market category and were reported under the stringent compliance guidelines set by the PSX, necessitating declaration by directors, CEOs, executives, and substantial shareholders of listed companies.

Muhammad Bilal, an executive at the company, purchased 260 shares at a rate of PKR 460.00 each and another 100 shares at PKR 441.99 each on September 19. Muhammad Hadi, another executive, bought 59 shares priced at PKR 455.00 on the same day. Both transactions were recorded in the Central Depository Company (CDC) form of share certificate.

On September 18, Sajeel Ahmed, an executive, and Tanzeela Rehman, the spouse of an executive, also participated in the trading, each buying shares at a rate of PKR 457.49. Ahmed acquired 698 shares, while Rehman purchased 800 shares, both transactions processed in CDC form.

The company confirmed that these transactions will be presented for scrutiny at the next board meeting as mandated by clause 5.6.4 of PSX Regulations. Additionally, it was affirmed that the holding period for these transactions is over six months. If any transactions fall within a six-month period, profits will be remitted to the Securities and Exchange Commission of Pakistan (SECP) in compliance with Section 105 of the Securities Act, 2015, with requisite notifications to PSX.

The post Mari Petroleum Executives Report Stock Transactions appeared first on .