KARACHI – Askari General Insurance Company Limited (the Company) announced on Wednesday that its Board of Directors has recommended a significant increase in the authorized share capital, along with amendments to the Company’s Memorandum and Articles of Association.
In its meeting held on August 7, 2025, the Board proposed increasing the authorized share capital of the company from Rs. 1 billion (divided into 100 million ordinary shares of Rs. 10 each) to Rs. 2 billion (divided into 200 million ordinary shares of Rs. 10 each). To accommodate this change, Clause V of the Memorandum of Association and Article 3 of the Articles of Association will be amended accordingly.
An Extraordinary General Meeting (EOGM) has been scheduled for August 29, 2025, at 10:30 a.m. at the Company’s Head Office in Rawalpindi. The EOGM will seek approval from shareholders for the proposed increase in share capital and the accompanying amendments to the company’s foundational documents.
The Share Transfer Books of the Company will be closed from August 23 to August 29, 2025, inclusive. Any transfers received by the Company’s Registrar, M/S THK Associates (Private) Limited, by the close of business on August 22, 2025, will be considered valid for the purpose of the EOGM.
The Notice of EOGM will be sent to stakeholders within the prescribed timeframe, and the Pakistan Stock Exchange (PSX) is requested to notify TRE Certificate holders accordingly.
