Karachi: Mari Petroleum Company Limited has recently disclosed the trading activities of its executive employees and their spouses, revealing multiple transactions in the company’s shares, as reported to the Pakistan Stock Exchange (PSX). The disclosed transactions were executed between December 2024 and January 2025, with the company assuring compliance with relevant regulatory requirements.
The transactions involved several executives and one spouse, each making significant purchases of the company’s shares. Omar Ahmad, an executive, acquired 30 shares at a rate of 694 per share on January 7, 2025. Syed Intisar Hussain, another executive, purchased 100 shares at a rate of 703.99 per share on January 3, 2025. On the same day, Muhammad Rashid, also an executive, bought 50 shares priced at 704.50 per share.
Furthermore, Sahir Inam, another executive, acquired 100 shares at a rate of 705.05 per share on January 6, 2025. The transactions also included Fahim Ahmed Kidwai, the spouse of an executive, who made multiple purchases. He bought 15 shares at 690 per share on December 20, 2024. Subsequently, on December 24, 2024, Kidwai purchased 15 shares at 680 per share, another 15 shares at 694 per share, and 25 shares at 709 per share. He concluded his transactions by buying 20 shares at 670 per share on December 26, 2024.
According to information available from the Pakistan Stock Exchange (PSX), these transactions will be presented in the upcoming board meeting of Mari Petroleum Company Limited, in accordance with clause 5.6.4 of the PSX Regulations. The company has confirmed that the holding period for these transactions is over six months. In cases where the holding period is within six months, any profit generated will be deposited with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015, with due notification to the PSX.
These transactions reflect the ongoing engagement of Mari Petroleum’s executives and their families in the company’s stock, underscoring their confidence in the firm’s future prospects. The company operates within the designated market category of energy, playing a significant role in Pakistan’s petroleum sector.