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Karachi, Pakistan Stock Exchange has been notified about a significant insider trading activity at First Elite Capital Modaraba. Muhammas Javed Amin, a Non-Executive Director, bought 500 shares at a rate of 4.32 per share on May 6, 2024. The shares were acquired in the ready market and registered through the Central Depository Company (CDC).
The transaction will be reviewed in the upcoming board meeting of First Elite Capital Modaraba. The company will discuss any non-compliance issues related to the trade and ensure adherence to the PSX Regulation clause No. 5.6.1.(d).
Furthermore, if the holding period of these shares is less than six months, the profit generated from any sale will be surrendered to the Securities and Exchange Commission of Pakistan (SECP), with a corresponding notification to the Pakistan Stock Exchange as mandated by Section 105 of the Securities Act, 2015.