Karachi: Hascol Petroleum Limited has announced that its Board of Directors will convene a meeting on Tuesday, 18 February 2025, to review and approve the revised budget for the year 2025. The meeting is scheduled to take place at 03:00 p.m. at the company’s corporate office in Karachi. This meeting is particularly significant as it will not focus on financial results, but rather on the strategic financial planning for the upcoming year.
The announcement was made on 11 February 2025, marking the commencement of the “Closed Period” for the company. This period extends from 11 February 2025 to 18 February 2025, during which time the Directors, CEO, and other executives are prohibited from directly or indirectly trading in the company’s shares. This measure is taken to ensure transparency and prevent any insider trading activities during the sensitive period leading up to the board meeting.
According to information available from the Pakistan Stock Exchange (PSX), the company has urged the TRE Certificate Holders of the Exchange to be informed of this closed period and the upcoming board meeting. The decision to revise the budget is seen as a proactive step by Hascol Petroleum Limited to align its financial strategies with the dynamic market conditions and economic challenges anticipated in 2025.
Hascol Petroleum Limited is a prominent player in the energy sector, operating within the designated market category of petroleum and energy solutions. As the company prepares to unveil its revised budget, stakeholders and investors will be keenly observing the outcomes of the board meeting, which could significantly influence the company’s strategic direction and market positioning in the energy industry.