Karachi: B.F. Modaraba has announced a recent transaction involving the sale of shares by one of its executive directors. The details of this transaction were made public in compliance with PSX regulations under clause 5.6.1.0.

On August 2, 2024, Mohammad Omar Bawany, an Executive Director at B.F. Modaraba, sold 42,863 shares of the company at a rate of PKR 11.71 each. The shares were sold in the 'Ready' market and registered through CDC (Central Depository Company).

According to information available from the Pakistan Stock Exchange (PSX), this disclosure aligns with the requirements of PSX, which mandates that directors, CEOs, executives, their spouses, and substantial shareholders report any such transactions. The said transaction will be reviewed in the upcoming board meeting, where any non-compliances will be highlighted for consideration.

Additionally, the company confirmed that the holding period for these shares exceeded six months. In scenarios where transactions occur within six months, the Securities Act of 2015 mandates that profits be deposited with the Securities and Exchange Commission of Pakistan (SECP), which B.F. Modaraba has adhered to by confirming compliance with this regulation.