Karachi: Mr. Omer Aizaz Sheikh, an executive at Kohat Cement Company Limited, acquired 2,500 shares of the company on July 2, 2024, at a price of Rs. 261.61 per share.
According to information available from the Pakistan Stock Exchange (PSX), the transaction was conducted through the Central Depository Company (CDC) and is part of the financial activities overseen under the stringent regulations of the PSX.
This purchase will be discussed in the upcoming board meeting of Kohat Cement Company Limited, with particular attention to compliance with clause No. 5.6.4 of the PSX Regulations. This clause mandates the disclosure and review of such transactions to ensure there are no breaches of conduct.
The company has also confirmed that the holding period for the purchased shares exceeds six months. If it had been less, the company would have been required to deposit the equivalent of any profits with the Securities and Exchange Commission of Pakistan (SECP), a measure that ensures executives do not unfairly benefit from short-term trading based on insider information.
This transaction highlights the transparency and regulatory adherence that Kohat Cement and its executives maintain in their financial dealings.