Islamabad: Executives from Mari Petroleum Company Limited have engaged in transactions involving the company's shares, according to a recent disclosure to the Pakistan Stock Exchange (PSX).

On September 25, 2024, Zaheer Uddin Babar, an executive at Mari Petroleum, purchased 23 shares at a price of PKR 425.50 each, followed by an additional 35 shares at PKR 425.90 each. Both transactions were conducted in the Ready market and were recorded on the Central Depository Company (CDC) system. Additionally, Brigadier Saad Saeed Naik (Retd), another executive at the firm, bought 1,520 shares at a rate of PKR 425.00 per share on the same date and under similar conditions.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are set to be reviewed at the upcoming board meeting, as mandated by clause 5.6.4 of PSX Regulations. The company also confirmed compliance with the Securities Act of 2015. Specifically, it noted that if the holding period for these transactions is less than six months, any profit derived must be surrendered to the Securities and Exchange Commission of Pakistan (SECP), with an official notification sent to PSX.

This report highlights the ongoing transparency and regulatory compliance upheld by Mari Petroleum regarding the trading activities of its top executives.