Soneri Bank Limited’s material information – meeting of the board of directors

Karachi: In accordance with clause (xxiii) of the Listing Regulation No. 35 under Code of Corporate Governance, and clause (1) of Rule 6 of Companies (Issue of Capital Rules) 1996.

We would like to inform you that the Board of Directors of Soneri Bank Limited (SNBL) in its meeting held on Thursday, 29 September 2011 has reviewed the status of compliance with the State Bank of Pakistan’s Minimum Capital Requirement and in this regard has approved the conditional option of issuing bonus shares upto 12.50% i.e. 12.5 shares for every 100 shares held of Rs. 10 each, subject to the following:

1) Grant of specific relaxation of clause (iii) of Rule 6 of the Companies (Issue of Capital) Rules, 1996 by the Securities and Exchange Commission of Pakistan; and

2) Receipt of the necessary approvals by the State of Bank of Pakistan.

The entitlement date and book closure date relating to the above declaration shall he made only after the Bank has received the required relaxations and approvals.

For more information, contact:
Muhammad Altaf Butt
Company Secretary
Soneri Bank Limited
Rupali House, 241-242 Upper Mall Scheme,
Anand Road,
Lahore – 54000,
Tel: (92-42) 3571301-04
Fax: (92-42) 35713095

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