Karachi: Mari Petroleum Company Limited has recently disclosed trading activities involving its executive employees, as per the company's internal communication dated January 2025. The disclosure highlights the purchase of shares by three executives, each transaction meticulously documented to comply with regulatory standards.
According to the statement issued by Mari Petroleum, Muhammad Bilal Akram, an executive within the company, purchased 80 shares on January 15, 2025, at a rate of 691 per share. This transaction was conducted in the Central Depository Company (CDC) under the 'Ready' market category.
The following day, on January 16, 2025, two more executives executed transactions. Sajjad Ahmed Khand bought 360 shares at a rate of 683.96 per share, while Omer Ahmad purchased 45 shares at a rate of 685 per share. Both transactions were also completed under the CDC in the 'Ready' market category.
According to information available from the Pakistan Stock Exchange (PSX), these transactions will be reviewed in the upcoming board meeting, ensuring adherence to clause 5.6.4 of the PSX Regulations. The company emphasized that the holding period for these transactions extends beyond six months, as mandated. In instances where the holding period is less than six months, any profit realized will be deposited with the Securities and Exchange Commission of Pakistan (SECP) in accordance with Section 105 of the Securities Act, 2015, with due notification to the PSX.
This disclosure underscores Mari Petroleum's commitment to transparency and regulatory compliance in its financial dealings, assuring stakeholders of its adherence to the legal frameworks governing trade and investment activities.