Islamabad: Rashid Hussain, Assistant Manager (Finance) at Pakistan Oilfields Limited, has executed a sale of 200 shares on October 4, 2024, according to company disclosures. The shares were sold at a rate of Rs. 647.00 per share through the electronic market system, adhering to the guidelines stipulated by the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), the transaction will be presented for review at the subsequent board meeting of Pakistan Oilfields Limited. This move comes under the scrutiny of PSX Regulation No. 5.6.4, ensuring that such transactions are made transparent and are within regulatory compliance.

The company confirmed that Hussain’s holding period for the shares exceeded six months, meeting the minimum required duration for transactions of this nature. In accordance with Section 105 of the Securities Act, 2015, the equivalent to the profit gained from this sale is mandated to be deposited with the Securities and Exchange Commission of Pakistan (SECP).

This sale by a significant financial officer underscores the ongoing compliance with market regulations that govern corporate executives' stock transactions, ensuring that all dealings are conducted transparently and within the bounds of legal and regulatory frameworks.