Quetta: The East West Insurance Company Limited has announced a proposal to increase its Authorized Capital from Rs. 2.50 billion to Rs. 3.00 billion. The decision will be put to a vote at the Extraordinary General Meeting scheduled for October 5, 2024, at their Registered Office on Jinnah Road.

The company aims to issue additional capital, dividing the new total into 300 million ordinary shares, each valued at Rs. 10. According to information available from the Pakistan Stock Exchange (PSX), this move is designed to enhance the financial flexibility of East West Insurance, allowing it to expand its operations and potentially improve its market positioning.

Shareholders are invited to vote on the resolution by postal ballot. Votes must be submitted by October 4, 2024, to be considered valid. Detailed instructions and ballot papers are available on the company's official website, and additional documentation is required for votes to be eligible.

The proposed increase in Authorized Capital also requires amendments to the Memorandum and Articles of Association of the company. These changes will take effect immediately if the resolution is passed by the shareholders.