Rawalpindi: Askari General Insurance Company Limited has announced an Extra Ordinary General Meeting (EOGM) scheduled for August 29, 2025, at its head office in Rawalpindi. The meeting will address both ordinary and special business matters, notably the proposed significant increase in the company's authorized share capital.

The primary agenda for the EOGM includes the confirmation of minutes from the company's 30th Annual General Meeting, held on April 29, 2025. However, the focal point of the meeting will be the consideration and approval of a proposal to double the authorized share capital. The proposal seeks to increase the authorized share capital from 1.00 billion rupees to 2.00 billion rupees. This change involves the creation of an additional 100 million ordinary shares, maintaining the face value of 10 rupees each.

According to information available from the Pakistan Stock Exchange (PSX), the move to expand the share capital is significant, aiming to enhance the company's financial capacity and flexibility. The increase is set to be formalized through alterations in the Memorandum and Articles of Association. The newly created shares will hold equal status with existing shares, ensuring parity for all shareholders.

The resolution requires shareholder approval during the meeting and mandates modifications to the company's Memorandum and Articles of Association. These changes grant the company the flexibility to manage its capital structure in accordance with the Companies Act, 2017, and other relevant regulations.

The company's Chief Executive Officer and Company Secretary have been authorized to undertake all necessary actions to implement the resolutions, including filing requisite documents with the Securities and Exchange Commission of Pakistan. The proposed increase in capital is expected to strengthen the company's financial position and support its growth objectives.