Karachi: The United Insurance Company of Pakistan Limited (UIC) announced on March 26, 2025, that its Board of Directors has approved the disinvestment of 59,940,632 ordinary shares in Apna Microfinance Bank Limited. This decision was made during a meeting held at 11:00 a.m. on the same day. The planned disinvestment is contingent upon receiving shareholder approval at the upcoming Annual General Meeting scheduled for April 25, 2025.

The disclosure of this material information is in compliance with Section 96 of the Securities Act 2015 and Clause 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited. The United Insurance Company of Pakistan Limited also attached a disclosure form for record purposes, detailing the specifics of the planned transaction.

According to information available from the Pakistan Stock Exchange (PSX), the disinvestment involves shares valued at Rs.359.64 million. This strategic move by UIC reflects its ongoing efforts to manage its investment portfolio effectively.

The United Insurance Company of Pakistan Limited is headquartered at Madina City Mall on Abdullah Haroon Road, Saddar Karachi. The company provided contact information, including the details of Syed Muhammad Tariq Nabeel Jafri, the Company Secretary, for any inquiries related to this announcement.

The decision to disinvest is a significant event for both UIC and Apna Microfinance Bank Limited, with potential implications for the financial market in the designated market category. The approval from shareholders at the forthcoming meeting will be a critical step in finalizing this transaction.