Karachi, In a recent financial disclosure to the Pakistan Stock Exchange (PSE), a significant transaction involving the purchase of shares by a major shareholder and Chief Executive Officer of Modaraba Management Company was reported. The transaction pertains to the acquisition of shares in Modaraba Al-Mali.
Aftab Ahmad, acting both as a substantial shareholder and the Chief Executive Officer of the Modaraba Management Company, executed a buy order for 275,000 shares of Modaraba Al-Mali on April 16, 2024. The shares were purchased at an average rate of PKR 5.00 per share and were traded in the ready market via CDC share certificates.
The company has indicated that this transaction will be reviewed in the upcoming board meeting. The review will include discussions on any non-compliance issues as mandated by clause No.5.6.4 of PSX Regulations. Confirmation of the details and compliance with the exchange regulations will subsequently be communicated to the Pakistan Stock Exchange.
This notification ensures that all market participants are made aware of significant trading activities by key executives within listed entities, maintaining transparency in financial dealings and compliance with regulatory requirements.