Karachi: Popular Islamic Modaraba Management Company (Pvt.) Limited has announced that it will hold a board meeting on October 25, 2024, to review the quarterly accounts for the period ending September 30, 2024. This meeting is set to take place at the company's head office in Karachi.

The board of directors will discuss the declaration of any entitlements following the review of the financial statements. A closed period has been declared from October 18 to October 25, 2024, as per clause 5.6.1(d) of the PSX Regulations, prohibiting any direct or indirect trading by company insiders during this interval.

According to information available from the Pakistan Stock Exchange (PSX), the closed period is a standard practice intended to prevent the misuse of unpublished financial information that could affect the stock prices. It is essential for maintaining transparency and fairness in the financial markets, especially before significant announcements such as financial results.

The management has also advised informing the TRE Certificate Holders of the Pakistan Stock Exchange about the closed period and the upcoming board meeting. This measure ensures that all market participants are aware of the restrictions in place and the schedule of the financial disclosure.