Karachi: First Elite Capital Modaraba disclosed recent transactions by non-executive directors and related persons in accordance with the Pakistan Stock Exchange's regulations. The transactions, executed in early August, reflect activity by key stakeholders in the company's shares.

On August 1, Muhammad Javed Amin, a non-executive director at First Elite Capital Modaraba, purchased shares in the company. The transaction, executed in the ready market, involved the acquisition of 1,600 shares at a rate of 31.45 each. This purchase brought his cumulative holdings to 725,410 shares, representing a 6.40% stake in the company. The movement in share price associated with this purchase has been classified as a Minor move.

In a separate transaction on August 4, Shahana Javed Amin, also a non-executive director, sold 713 shares at a rate of 30.20 each. This sale reduced her cumulative holdings to 75,387 shares, constituting a 0.66% share in the company. The price change associated with this sale was categorized as a Minor move.

According to information available from the Pakistan Stock Exchange (PSX), the transactions were compliant with the regulations, which mandate immediate disclosure and reporting to the Board of Directors. These reports must be presented in the board meeting following such activities and recorded as per the PSX guidelines. Furthermore, the company is required to update the details in the UIN Management System promptly.

Additionally, the PSX's regulations necessitate that no director, CEO, or executive engages in share dealings during closed periods, and any transactions within a holding period of less than six months must result in profits being deposited with the Securities and Exchange Commission of Pakistan (SECP).

This disclosure forms part of the designated market category of regulated securities activities and emphasizes First Elite Capital Modaraba's adherence to regulatory frameworks governing transactions by substantial shareholders and affiliated individuals.