Karachi: An executive at Mari Petroleum Company Limited disclosed a significant stock transaction, according to a notification sent to the Pakistan Stock Exchange. Zaheer Uddin Babar, identified as an executive of the company, reported purchasing 200 shares on October 3, 2024. The shares were acquired at a price of PKR 414.99 each, totaling PKR 82,998. The transaction took place in the ready market and was conducted through the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), the details of this transaction will be discussed in the upcoming board meeting, as mandated by clause 5.6.4 of the PSX Regulations. The company also confirmed adherence to the regulations concerning the holding period for such transactions. If the holding period is less than six months, the executive is required to deposit with the Securities and Exchange Commission of Pakistan (SECP) a cheque equivalent to any profit earned, with notification to the PSX.

This transaction underscores the ongoing compliance of Mari Petroleum’s executives with market regulations, reinforcing transparency and accountability within the company’s financial practices.