Soneri Bank Reports Insider Share Purchases by Directors’ Spouses

Karachi: Soneri Bank disclosed significant share transactions by the spouses of the bank’s top executives on August 26, 2024, aligning with transparency requirements under the Pakistan Stock Exchange regulations. According to the bank, these transactions involved substantial volumes and were conducted within the stipulated market guidelines.

According to information available from the Pakistan Stock Exchange (PSX), Mrs. Salima A Feerasta and Mrs. Zaina Feerasta, spouses of Mr. Amin Feerasta, Chairman, and Mr. Ahmed Feerasta, Director respectively, purchased shares in the bank. Mrs. Salima A Feerasta bought 302,500 shares at a rate of Rs. 14.7742 per share, and Mrs. Zaina Feerasta acquired 300,000 shares at Rs. 14.9167 each. All transactions were carried out through a broker in the Ready Market.

Soneri Bank has stated that these transactions will be scrutinized at the subsequent board meeting to address any potential non-compliance issues as mandated by clause No. 5.6.4 of the PSX Regulations. This confirmation is part of the bank’s ongoing commitment to uphold regulatory standards and ensure transparency in its corporate governance practices.

The disclosure by Soneri Bank is part of routine regulatory compliance intended to maintain transparent and fair trading practices among insiders and their affiliates, reinforcing investor confidence in the governance of publicly listed companies.

The post Soneri Bank Reports Insider Share Purchases by Directors’ Spouses appeared first on .