Karachi: The General Manager of the Pakistan Stock Exchange has been notified about recent share trading activities involving the spouse of a key executive at Mari Petroleum Company Limited. These transactions occurred on multiple dates in early October 2024.

According to a disclosure filed with the PSX, the spouse of Fahim Ahmed Kidwai, an executive at Mari Petroleum, conducted several transactions to purchase company shares. The details reveal transactions spanning from October 4 to October 8, 2024. On October 4, transactions included 20 shares bought at PKR 409.80 each, 30 shares at PKR 415.00 each, and 50 shares at PKR 419.00 each. By October 8, additional shares were acquired, with 100 shares purchased at PKR 417.50 each and 50 shares at PKR 422.00 each.

The total shares bought by Fahim Ahmed Kidwai's spouse amounted to 285, occurring in various amounts and prices, reflecting a strategic accumulation of equity. This activity falls under the ready market category, facilitated through the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), this sequence of purchases will be presented in detail at Mari Petroleum’s next board meeting as part of the corporate disclosure requirements. The disclosure aligns with clause 5.6.4 of PSX Regulations, ensuring transparency and regulatory compliance in dealings by significant insiders of the listed company.

The holding period for these transactions is mandated to be over six months, as specified under Section 105 of the Securities Act, 2015, to ensure compliance with the requisite legal and regulatory framework. This notice serves as a formal acknowledgment of the trades, underscoring the ongoing commitment to governance and shareholder transparency at Mari Petroleum.