Karachi: IGI Life Insurance Limited has announced that its 30th Annual General Meeting (AGM) will be held on Wednesday, April 30, 2025, at 2:00 p.m. The meeting will take place at the Auditorium of the Institute of Chartered Accountants of Pakistan in Clifton, Karachi, with an option for virtual participation via a video link.
The agenda for the AGM includes the confirmation of the minutes from the previous meeting held on April 29, 2024. Shareholders will also consider and adopt the audited financial statements of the company for the year ending December 31, 2024. These documents, which include the Chairman's Review Report and the Directors' and Auditors' Reports, are available online. The meeting will also address the appointment and remuneration of statutory auditors for 2025. The current auditors, M/s. A. F. Ferguson and Co., have consented to be reappointed, and the Board of Directors has recommended their reappointment.
The Share Transfer Books of the company will be closed from April 23 to April 30, 2025, inclusive. Only those listed as members by April 22, 2025, will be eligible to attend the meeting. Shareholders interested in participating virtually must register by April 28, 2025, by providing their details to the designated email address. Upon registration, participants will receive login details to join the meeting via a video link.
Participation in the AGM allows members to vote, either personally or through a proxy. Proxy forms must be submitted to the company's Share Registrar no later than 48 hours before the meeting. Shareholders with physical shares are reminded to notify any changes in their details to the Share Registrar, while CDC account holders are urged to update their information with their respective services.
According to information available from the Pakistan Stock Exchange (PSX), IGI Life Insurance Limited is classified under the designated market category for life insurance. The company has made arrangements to circulate its audited financial statements and related materials electronically, as per the Companies Act, 2017. Shareholders have the option to request hard copies, which will be provided free of charge within one week of the request.
The company has also urged shareholders holding physical shares to convert them to the book-entry form in compliance with the Companies Act, 2017. This transition aims to facilitate safe custody and the trading of shares, as trading physical shares is not permitted under current PSX regulations. Additionally, shareholders with unclaimed dividends or shares are advised to contact the Share Registrar. Unclaimed dividends and shares outstanding for over three years will be credited to the Federal Government or delivered to the Securities and Exchange Commission of Pakistan (SECP), respectively.