Karachi: Senior management member Usman Ghani of Fauji Fertilizer Company Limited executed two separate transactions involving the sale of company shares on September 3, 2024. These transactions, detailed in the latest disclosures to the Pakistan Stock Exchange, mark significant trading activity by a high-ranking executive within the company.

Ghani sold a total of 7,300 shares in two different transactions: 4,800 shares at a rate of 182.01 and an additional 2,500 shares at a rate of 182.02. Both sales occurred in the 'Ready' market and were facilitated through the Central Depository Company (CDC), ensuring compliance with securities handling.

According to information available from the Pakistan Stock Exchange (PSX), these transactions will be reviewed in the upcoming board meeting of Fauji Fertilizer. The review will include an examination of any non-compliances related to these trades as mandated under clause No. 5.6.1(d) of PSX Regulations. The company has confirmed that the holding period for the shares sold was over six months; therefore, there is no requirement for depositing profits with the Securities and Exchange Commission of Pakistan, as would be necessary for sales within a six-month period according to Section 105 of the Securities Act, 2015.

These disclosures align with PSX regulations designed to ensure transparency and fair dealing in the securities market, particularly concerning transactions by company insiders.