Nauman Rathore Buys Shares in First Elite Capital Modaraba

Karachi: In a recent transaction on the Pakistan Stock Exchange, Nauman Rathore, a substantial shareholder in First Elite Capital Modaraba, acquired 134,000 shares at a rate of Rs. 9.53 per share. This transaction, conducted in the ready market and recorded through the Central Depository Company (CDC), took place on August 7, 2024.

According to information available from the Pakistan Stock Exchange (PSX), this purchase will be presented for review in the upcoming board meeting of First Elite Capital Modaraba. The review will include assessments of any non-compliances with PSX Regulations, specifically clause 5.6.1.(d), which mandates such disclosures.

Further, the company has confirmed that if the holding period of these shares is less than six months, any profit realized will be subjected to compliance under Section 105 of the Securities Act, 2015. In such an event, a cheque equivalent to the profit must be deposited with the Securities and Exchange Commission of Pakistan (SECP), with due intimation to the PSX.

This disclosure ensures transparency and adherence to regulatory standards, maintaining investor confidence in the governance of publicly listed companies.

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