Karachi: Cordoba Logistics and Ventures Limited has officially reported a significant share purchase transaction by Raza Elahi, spouse of Non-Executive Director Anum Raza. This disclosure adheres to the stringent transparency requirements set by the Pakistan Stock Exchange regulations.
According to information available from the Pakistan Stock Exchange (PSX), the transaction involved the purchase of 25,966 shares on September 10, 2024, at a rate of PKR 14.12 each. The shares were acquired in a ready market through the Central Depository Company (CDC).
This purchase will be scrutinized in the upcoming board meeting, where compliance with Clause 5.6.4 of the PSX Regulations will be assessed. The company has affirmed that this transaction will be highlighted during the meeting to address any potential non-compliance issues.
Furthermore, Cordoba Logistics has confirmed adherence to the Securities Act of 2015. Should the holding period of these transactions be less than six months, the profit derived will be submitted to the Securities and Exchange Commission of Pakistan (SECP) in the form of a cheque, as stipulated under Section 105, with appropriate intimation to PSX.
This disclosure ensures that all market participants are informed of significant insider transactions, maintaining transparency and trust in the market practices of Cordoba Logistics.