AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: East West Insurance Co., Ltd. has released a Ballot Paper in accordance with Regulation 8 of the Companies (Postal Ballot) Regulation, 2018. This document has been disseminated for postal voting and is also accessible on the company’s official website.
In adherence to Regulation 4 of the Companies (Postal Ballot) Regulations 2018, the company has availed the e-voting facility for its eligible shareholders, ensuring their compliance with the relevant laws.
The East West Insurance Company Limited’s head office has provided specifics for the Ballot paper aimed at the forthcoming Extraordinary General Meeting. This event is slated for November 10, 2023, at 03:00 PM at the company’s registered address: 27, Regal Plaza, Jinnah Road, Quetta.
The primary agenda of the meeting is to deliberate and potentially approve the increase in paid-up capital of the company from PKR 1,758,913,880 to PKR 2,022,750,960. This would involve issuing an additional 26,383,708 ordinary shares, priced at PKR 10 per share, directed towards the East West Holding Company Limited, an associated entity.
When allocated, these shares will hold equal standing with the existing fully paid ordinary shares. The Chief Executive Officer & Company Secretary is proposed to be granted authorization for executing the necessary documentation related to the shares’ issue.
Additionally, the company has laid down comprehensive instructions for the shareholders regarding the postal ballot procedure. Significant emphasis has been placed on ensuring the authenticity and completeness of the ballot papers, with a firm deadline set for their submission by November 09, 2023.