Karachi, In a recent transaction on the Pakistan Stock Exchange (PSE), Muhammad Omer Farooq, a director of Kohinoor Energy Limited, acquired 16,500 shares of the company on March 29, 2024. The shares were purchased at a rate of 37.47 PKR per share through the Central Depository Company (CDC).
This transaction has been officially disclosed in accordance with the PSX Regulations under clause No. 5.6.1.(d), which mandates the reporting of trades by directors, CEOs, executives, their spouses, and substantial shareholders of listed companies. The details of the transaction will be reviewed in the upcoming board meeting of Kohinoor Energy Limited. This review will include an examination of compliance with the necessary regulatory requirements.
Additionally, the company has confirmed that the holding period for these shares exceeds six months. This is in line with the Securities Act, 2015, which requires that profits from transactions within a six-month period be returned to the Securities and Exchange Commission of Pakistan (SECP) under intimation to PSX. The commitment to these regulations underlines the transparency and governance standards upheld by participants in the Pakistan Stock Exchange.