Karachi: The United Insurance Company of Pakistan Limited has announced an addendum to its notice for the 65th Annual General Meeting, scheduled for April 25, 2025. The meeting will take place in Karachi and will incorporate electronic voting and postal ballot options for its members. This development follows the amended regulations issued by the Securities and Exchange Commission of Pakistan in December 2022, mandating such facilities for all special resolutions under the Companies Act of 2017.
The original notice of the addendum was made public through advertisements in the "Business Recorder" and "Daily Nai Baat" on April 15, 2025. The addendum was initially published on April 4, 2025, detailing the provisions for electronic voting and postal ballots. As stipulated by the Companies (Postal Ballot) Regulations, 2018, e-voting will be facilitated by Digital Custodian Company Limited, while Suhail & Co. Chartered Accountants will act as the scrutinizer for the process.
According to information available from the Pakistan Stock Exchange (PSX), the agenda for the AGM includes special resolutions, requiring the organization to provide an e-voting option. Members eligible for this facility will receive details via email, including web addresses and login credentials. The e-voting period will open on April 22, 2025, and close on April 24, 2025, at 5:00 p.m. Members can vote during this timeframe, but once cast, votes cannot be altered.
For those opting to vote by postal ballot, members must ensure that completed ballot papers, along with a copy of their Computerized National Identity Card, are sent to the company's registered office in Karachi. This process is governed by the Companies (Postal Ballot) Regulations, 2018, ensuring compliance with regulatory standards.
The meeting comes under the designated market category of insurance and is a significant event for the company's stakeholders, providing them with the opportunity to influence corporate governance and decision-making through modern voting mechanisms.