Karachi, PICIC Insurance Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 05, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2018 which portrayed a loss of Rs. 11,799 with loss per share 0.34 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from April 24, 2019 to April 30, 2019 (both days inclusive).
PICIC Insurance Limited was incorporated on April 23, 2004 under the Companies Ordinance 1984 as a public limited company and registered as a non-life insurance company by the Securities and Exchange Commission of Pakistan under the insurance ordinance, 2000. The registered office of the company is located at Karachi. The company is listed on the Karachi, Lahore and Islamabad stock Exchanges of Pakistan.
PICIC Insurance Limited is a part of the Temasek Group operating in Pakistan. NIB Bank Limited a subsidiary of the Temasek Group in Pakistan is a shareholder of PICIC Insurance Limited with a 30% stake.
The symbol “PIL” is being used by the stock exchange for the shares of PICIC Insurance Limited.