Mari Petroleum Executives Report Transactions in Company Shares

Karachi: Mari Petroleum Company Limited has disclosed recent transactions involving its shares by executive employees, in compliance with regulatory requirements. The transactions, conducted on October 21, 2024, will be reviewed in the upcoming board meeting as mandated under the Pakistan Stock Exchange (PSX) regulations.

According to information available from the Pakistan Stock Exchange (PSX), Imran Shafee, an executive at Mari Petroleum, purchased 390 shares at a rate of Rs. 431.87 each. This transaction was executed in the ready market, and the shares were held in the Central Depository Company (CDC) form.

Conversely, retired Colonel Abdul Khaliq, another executive, engaged in two separate transactions; he sold 7,816 shares at Rs. 427.50 each and an additional 15,000 shares at Rs. 435.00 each. These sales also took place in the ready market with shares held in CDC form.

Mari Petroleum has affirmed that if the holding period for these transactions is less than six months, any profit gained will be returned to the Securities and Exchange Commission of Pakistan (SECP), as stipulated under Section 105 of the Securities Act, 2015. This action is part of a broader regulatory framework designed to maintain transparency and prevent the misuse of insider information.

The company has committed to keeping the Pakistan Stock Exchange informed about these and any similar future transactions, ensuring compliance with both legal and ethical standards governing corporate conduct and market transactions.

The post Mari Petroleum Executives Report Transactions in Company Shares appeared first on .