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Karachi, The 29th Annual General Meeting (AGM) of Shaheen Insurance Company Limited (SICL) is scheduled to take place on Monday, April 22, 2024, at 11:00 a.m. at the Muhammad Siddique Memon Scout Auditorium on Moulana Din Mohammad Wafai Road, Saddar, near the Arts Council in Karachi. This meeting will also be accessible via video link to address key financial activities of the past year.
The agenda for the AGM includes the presentation and adoption of the Annual Audited Financial Statements for the year ended December 31, 2023. These statements encompass the detailed financial performance of SICL along with insights from the Directors’ and Auditor’s Reports.
In addition to the financial statements review, shareholders will deliberate on the proposed cash dividend of 2.5% (Rs.0.25 per ordinary share of Rs.10 each). The board also recommends issuing bonus shares at a rate of 7.5%, equating to 7.5 ordinary shares for every 100 shares held, reflecting the company’s performance for the fiscal year ending December 31, 2023.
Another significant point on the agenda is the reappointment of the company’s auditors. The Board of Directors, following the Audit Committee’s recommendation, proposes the reappointment of M/s. BDO Ebrahim & Co., Chartered Accountants, to audit the company for the fiscal year 2024 and to agree on their remuneration.