Karachi: Premier Insurance Limited has announced the successful subscription of its rights shares by its directors and substantial shareholders, totaling PKR 102.33 million. This amount represents 10,232,576 rights shares priced at PKR 10 per share, covering 50.60% of the total rights issue as per the report dated November 6, 2026.

The subscription process was conducted in accordance with the Companies (Further Issue of Shares) Regulations, 2020, alongside other applicable laws. The confirmation of the deposit was certified by BDO Ebrahim & Co., Chartered Accountants, who verified the receipt of the subscription money, ensuring compliance with the regulatory requirements.

According to information available from the Pakistan Stock Exchange (PSX), the company's board of directors authorized the rights issue of share capital amounting to PKR 202.26 million in a meeting held on September 24, 2026. The subscribed amount of PKR 102.33 million was deposited into the designated account at JS Bank Limited.

The certification process involved verifying the transaction approval from the board and the receipt of consideration from substantial shareholders and directors. The auditor's responsibility was to ensure compliance with section 70 of the Companies Act, 2017, as prescribed by the Institute of Chartered Accountants of Pakistan's guidelines.

This financial maneuver underscores Premier Insurance Limited's adherence to corporate governance standards, ensuring that the rights issue aligns with the stipulated legal framework. The company's management remains responsible for fulfilling all related legal requirements, while the auditor's verification was limited to specific procedural checks.