Multan: The Pakistan General Insurance Company Limited has announced an upcoming meeting of its Board of Directors, scheduled for November 21, 2025, at 11:00 a.m. The meeting will take place at the company’s head office in Multan, with a video-link facility available. The agenda for the meeting includes several significant items, with a focus on financial enhancements and shareholder engagement.
The board will first address the confirmation of the minutes from its last meeting, held on October 28, 2025. A primary agenda item is the consideration and approval of an Extra Ordinary General Meeting (EOGM), proposed for December 15, 2025, at 11:00 a.m. This meeting is intended to be held at the company’s head office, also featuring a video-link facility, which reflects the company’s commitment to accessibility and transparency for all stakeholders.
One of the key topics to be discussed is the proposed increase in the company’s Authorized Share Capital. The board will deliberate on recommending to its members an increase from Rs. 500,000,000 to Rs. 2,000,000,000. This would involve expanding the number of ordinary shares from 50,000,000 to 200,000,000, while maintaining the nominal value of Rs. 10 per share. This proposed change necessitates amendments to Clause V of the Memorandum of Association and Article 6 of the Articles of Association, requiring shareholder approval.
The meeting will also address the potential issuance of up to 9,360,000 ordinary shares, valued at Rs. 10 each, to be allocated to Mr. Muhammad Shahzad Habib and Mrs. Rushra Shahzad in equal proportions. This issuance, which deviates from the typical rights offering, will be conducted for consideration other than cash. This decision is subject to compliance with the Companies (Further Issue of Shares) Regulations, 2020, and requires approvals from both the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX), as well as shareholder consent. According to information available from the Pakistan Stock Exchange (PSX), such measures signify a proactive approach to capital management and strategic investment.
The meeting’s agenda concludes with provisions for the transaction of any other business, pending the chair’s approval. This flexibility allows the board to address any emerging issues or opportunities that may arise, underscoring the board’s commitment to responsive and dynamic governance.