Karachi: Executives from Mari Petroleum Company Limited have recently disclosed transactions involving company shares, occurring primarily on September 18, 2024, with additional trades recorded on September 19, 2024. These transactions, set to be reviewed in the next board meeting, adhere to stringent regulatory requirements, highlighting the company's commitment to transparency and governance standards.

Executives including Muhammad Umar Shamim, Shakeel Ahmed Kayani, Rizwan Rehman, Muhammad Hadi, Brig Aftab Ahmed Qureshi (Retd), and Muhammad Ahmed engaged in the purchase of shares, with the quantities ranging from 2 to 1,000 shares at prices between 454.00 and 467.70. All transactions were conducted through the Central Depository Company (CDC) and were executed in the ready market.

According to information available from the Pakistan Stock Exchange (PSX), these transactions adhere to clause 5.6.4 of the PSX Regulations. The company has assured that all trades that fall within a six-month holding period will follow the stipulations of Section 105 of the Securities Act, 2015. This includes depositing cheques equivalent to any profits earned during this period with the Securities and Exchange Commission of Pakistan (SECP), a procedure that underscores the regulatory framework governing executive trades in the stock market.

This practice of disclosure not only aligns with legal frameworks but also ensures that executive actions remain aligned with shareholder interests and corporate governance principles.