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Karachi: BRR Guardian Limited has officially filed a certified true copy of the Special Resolution, along with ordinary resolutions that were adopted during the Annual General Meeting held on October 28, 2023. These resolutions have now become effective and are circulated amongst the TRE Certificate-Holders of the Exchange.
The Special Resolution pertains to an approval for an additional equity investment of more than 10% in shares of Dawood Family Takaful Limited, an associated company of BRR Guardian Limited. The investment is capped at Rs. 75 million (additional) and is to be made within the next three years. This investment is subject to approval from the insurance division of the Securities and Exchange Commission of Pakistan, as well as compliance with applicable rules, regulations, and approvals from the regulatory authority.
The Annual General Meeting resolved to authorize the Chief Executive or Company Secretary, either of whom may act severally, to perform all necessary acts, deeds, and things to implement this resolution. They are also empowered to make amendments or modifications to the resolution as may be required, with such changes also considered approved by the shareholders.
The adoption of this Special Resolution ensures compliance with section 199 of the Companies Act, 2017, facilitating BRR Guardian Limited in its strategic financial decisions.