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Karachi: A significant share purchase by a substantial shareholder in First Elite Capital Modaraba has been officially recorded and disclosed.
Nauman Rathore, categorized as a substantial shareholder, acquired 9,500 shares of First Elite Capital Modaraba on July 3, 2024. The transaction was executed at a price of Rs. 9.48 per share through the Central Depository Company (CDC) in the ready market.
According to information available from the Pakistan Stock Exchange (PSX), this investment will be reviewed during the next board meeting. Any issues of non-compliance with PSX Regulation clause No.5.6.1. (d) will be duly addressed and reported back to the Exchange.
The company confirmed that the duration for which the shares were held before this transaction exceeded six months. If this duration had been less than six months, any resulting profit would have necessitated the issuance of a cheque to the Securities and Exchange Commission of Pakistan (SECP), complying with Section 105 of the Securities Act, 2015.