ZENITH BANK EXECUTIVE DIRECTOR PURCHASES ADDITIONAL 1 million shares WORTH N23.65 MILLION

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zenith management team temitope fasoranti

Zenith Bank Executive Director purchases additional 1 million shares worth N23.65 million

Reports indicated that Zenith Bank Nigeria Plc has notified the Nigerian Stock Exchange that Dr. Temitope Fasoranti, an Executive Director in the bank, has acquired 1,000,000 additional units of Zenith Bank shares, worth N23.65 million.

The disclosure was made by the Bank’s Secretary, Michael Osilama Otu, in line with the Nigerian Stock Exchange’s policy on insider dealing.

According to the disclosure, Dr. Fasoranti acquired the shares on the 16th of December, 2020 in one transaction and at an average price of N23.65

Report  gathered that Dr. Fasoranti has now purchased a total of 3 million additional shares in the last three months, having previously purchased 1 million shares each on 23rd and 24th of September 2020 at N16.80 and N17.00 unit price respectively.

In monetary terms, Dr. Fasoranti has spent a cumulative sum of N57.45 million in the last three months, recording N16.8 million, N17 million and N23.65 million on individual transactions respectively.

In lieu of this, the total number of direct shares held by Dr. Fasoranti currently stands at 8,075,000 units.

Zenith Bank Plc shares currently trade at N24.75, up by 2.7% from yesterday’s price of N24.10.

The disclosure is in compliance with NSE’s policy on insider dealing to ensure transparency. The purchase of shares by insiders often demonstrates confidence in the future prospects of the company.

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