Lahore: Crescent Modaraba Management Company Limited has announced that its Board of Directors will convene a meeting on February 24, 2025, at 1:30 P.M. in Lahore. This meeting is set to review and consider the Half Yearly Accounts for the period ending December 31, 2024. In compliance with the Pakistan Stock Exchange (PSX) regulations, the company has declared a “Closed Period” from February 17, 2025, to February 24, 2025. During this time, no Director, CEO, or Executive shall engage directly or indirectly in any dealings with the Modaraba Certificates.
This announcement comes as part of the company”s adherence to regulatory requirements, specifically Clause 5.6.4 of PSX Regulations. The decision to call a Closed Period aims to ensure transparency and maintain investor confidence by preventing insider trading practices during sensitive financial review periods. The Crescent Modaraba Management Company Limited manages the First Elite Capital Modaraba and is responsible for informing TRE Certificate Holders of the Exchange regarding this closed period.
Additionally, Pakistan Paper Products Ltd has also scheduled its 2nd Quarter Board of Directors meeting on February 25, 2025, at 11:00 A.M. The meeting will take place at the company”s Registered Office at D/58, Estate Avenue, SITE, Karachi. The Closed Period for this company has been declared from February 18, 2025, to February 25, 2025, in line with Regulation No. 5.6.1(d) of the Exchange. This regulation prohibits Directors, CEOs, or Executives from dealing in the company”s shares during the closed period.
According to information available from the Pakistan Stock Exchange (PSX), such closed periods are critical for maintaining market integrity and ensuring that all stakeholders operate on a level playing field. The designated market category for these companies falls under the Modaraba and paper product sectors, which are subject to periodic financial disclosures and adherence to stock exchange regulations.
Both companies are committed to upholding high standards of corporate governance and transparency, fostering trust among investors and regulatory bodies alike. As the board meetings approach, stakeholders will be keenly observing the outcomes and any subsequent financial disclosures that may impact the market dynamics.