Karachi: A significant transaction has taken place on July 2, 2024, involving Nauman Rathore, a substantial shareholder in First Elite Capital Modaraba. Rathore acquired 70,860 shares at a rate of 8.47 per share in a ready market transaction facilitated through CDC.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition by Rathore represents a notable activity within the trading circles of First Elite Capital Modaraba. This transaction is expected to be addressed in the upcoming board meeting, where any potential non-compliance issues will be thoroughly examined as stipulated by the PSX Regulations under clause No.5.6.1. (d).

The company has confirmed that if the holding period for these transactions is under six months, any profits generated will be handled in accordance with Section 105 of the Securities Act, 2015. This involves depositing a cheque equivalent to the profit with the Securities and Exchange Commission of Pakistan (SECP), with a proper intimation to PSX.

This regulatory adherence underscores the stringent oversight mechanisms in place to maintain transparency and integrity within the financial markets of Pakistan.