Karachi: An executive of Mari Petroleum Company Limited has engaged in a share purchase, the company reported. This transaction, involving 55 shares at a price of PKR 3,264.07 each, occurred on August 22, 2024, and was conducted through the Central Depository Company (CDC) in the ready market.

The individual involved, Muhammad Hadi, an executive of the company, complied with the regulatory framework by declaring this transaction to the appropriate authorities. According to information available from the Pakistan Stock Exchange (PSX), all necessary procedures and disclosures related to this trade are being adhered to.

Mari Petroleum confirmed that this transaction would be reviewed in the upcoming board meeting, as stipulated under clause 5.6.4 of PSX Regulations. The company also assured that if the holding period of the shares is less than six months, any profit generated would be surrendered to the Securities and Exchange Commission of Pakistan (SECP), with proper notification to PSX, as mandated by Section 105 of the Securities Act, 2015.