Century Insurance Company Limited Announces Voting Process for Upcoming Shareholders Meeting

Karachi, Century Insurance Company Limited has released details about its upcoming voting process through a postal ballot for the shareholders’ meeting scheduled for April 23, 2024. This meeting aims to address key resolutions related to the company’s transactions with associated companies and related parties, as detailed in their audited financial statements for the year ended December 31, 2023.

Shareholders are invited to cast their votes on resolutions, notably the ratification and approval of transactions conducted in the normal course of business with associated companies/related parties as disclosed in Note No. 35 & 30 of the audited financial statements for both Conventional and Window Takaful Operations for the previous year. Additionally, a resolution will be considered to authorize the Chief Executive Officer of Century Insurance Company Limited to approve all transactions with associated companies/related parties for the upcoming year ending December 31, 2024, along with the necessary authority to take actions and sign required documents on behalf of the company.

The ballot paper, which must be filled and signed by shareholders, outlines the procedure for submission, including the requirement to send the original postal ballot or a scanned copy to Mr. Iqbal Ali Lakhani, Chairman at Century Insurance Company Limited, Karachi, by April 22, 2024. It also specifies that the shareholder’s signature on the ballot must match the signature on their CNIC/Passport, and emphasizes that incomplete, unsigned, or improperly filled ballots will be rejected. The resolution also mentions the need for authorization documents for representatives of body corporates voting on behalf of the organization.

This announcement and the ballot paper have been made available on the company’s website, and shareholders are encouraged to download the document for their participation in the critical decision-making process impacting the company’s operational directives for the forthcoming year.