Karachi, East West Insurance Company Limited informed Pakistan Stock Exchange that the Board of Director of the company has to decide to increase the Authorized Capital of the company to facilitate the further issue of capital.
RESOLVED that the Authorized Capital of the Company be increased from Rs. 2,000,000,000/- (Rupees Two Thousand Million only) to Rs. 2,500,000,000/. (Rupees Two Thousand Five Hundred Million Only) and divided in 250.000,000 ordinary shares of Rs. I0/- each.
That respective clause of Memorandum and Articles of Association of the company have to be amended to the extent of increased Authorized Capital and division thereof to becomes effective immediately and accordingly the special resolution, be put for the approval in the Annual General Meeting.
East West Insurance Company Limited is a Public Limited Company, was incorporated in Pakistan in the year 1983. The Company is engaged in the general insurance business. In addition, it provides the insurances for Fire, Marine, Motor, Bonds and Engineering, Health and travel, crops and miscellaneous.
The Company is listed on Pakistan Stock Exchange, and the shares of the Company are 118,335,819. The Earnings per shares is 1.96 in 2020 which was 1.81 in 2019. Their Profit after Taxation is 231,375,000 in 2020 which was 183,846,000 in 2019.