Karachi: An executive at Mari Petroleum Company Limited has purchased shares of the company, a transaction that will be reviewed in the upcoming board meeting as per regulatory requirements.

This transaction, involving Muhammad Hadi, an executive at Mari Petroleum, occurred on August 19, 2024. Mr. Hadi bought 60 shares at a price of PKR 3,361.28 each through the Central Depository Company (CDC) in the ready market.

According to information available from the Pakistan Stock Exchange (PSX), this purchase is part of the normal disclosure requirements for listed companies. Directors, CEOs, executives, and significant shareholders must inform the company when they trade its shares, which is then publicly disclosed to maintain transparency.

The company has confirmed that the transaction complies with the PSX Regulations under clause 5.6.4, which necessitates presenting such transactions in the subsequent board meeting for review. Moreover, the holding period for this transaction is over six months. Should it have been within six months, the profit's equivalent in cheque would be required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated under Section 105 of the Securities Act, 2015.