Karachi: In recent trading on the Pakistan Stock Exchange, Raza Elahi, the spouse of Anum Raza, a non-executive director at Cordoba Logistics and Ventures Limited, engaged in significant stock transactions, as revealed on July 31 and August 1, 2024. The trading involved the acquisition of over 77,875 shares, emphasizing the continued insider interest in the firm.
According to information available from the Pakistan Stock Exchange (PSX), Raza Elahi executed two separate purchases through the market’s Ready form of share certificates. On July 31, 2024, Elahi bought 50,436 shares at a rate of 16.86 per share, followed by another purchase of 27,439 shares on August 1, 2024, at a rate of 17.02 per share. Both transactions were conducted through the Central Depository Company (CDC).
Cordoba Logistics and Ventures has confirmed that these transactions will be reviewed in the upcoming board meeting. The company will assess compliance with PSX Regulation 5.6.1.(d) and report any non-compliance to the board for further consideration. Furthermore, the firm has assured that if the holding period for these transactions is less than six months, any profits will be surrendered to the Securities and Exchange Commission of Pakistan (SECP) in accordance with Section 105 of the Securities Act, 2015, with an official notification to be sent to PSX.
This disclosure underscores the importance of transparency and regulatory adherence in transactions involving significant shareholders and top executives or their spouses, ensuring that all market participants operate on a level playing field.