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Karachi, Jubilee General Insurance Company Limited has scheduled its 71st Annual General Meeting (AGM) for April 04, 2024. The meeting will be held at the company’s registered office, Jubilee Insurance House, located on I.I. Chundrigar Road in Karachi as well as through electronic means using a Zoom video link facility. The agenda includes the adoption of annual audited financial statements for the year ended December 31, 2023, along with the Auditors’ and Directors’ reports.
The company plans to propose a final cash dividend of 50% (Rs.5.00 per ordinary share of Rs.10 each) for the year ended December 31, 2023, following the recommendation of its Board of Directors. Additionally, the AGM will address the appointment of new auditors for the fiscal year ending December 31, 2024, as the current auditors, M/s. A.F. Ferguson & Co., Chartered Accountants, have completed their tenure and are ineligible for reappointment under applicable law. M/s. KPMG Taseer Hadi & Co., Chartered Accountants, have been recommended by the Audit Committee and the Board to replace the retiring auditors.
In compliance with the Securities and Exchange Commission of Pakistan’s guidelines, the company encourages shareholders to attend the meeting through electronic means. Shareholders interested in attending the AGM online must register with the Company Secretary’s office by April 03, 2024. Additionally, arrangements have been made for shareholders who wish to attend the meeting in person at the registered office in Karachi. Provisions have also been made for members to appoint proxies to attend, speak, and vote on their behalf, in accordance with the Companies Act 2017 and SECP regulations.
Shareholders may send their comments and suggestions regarding the AGM agenda items to the Company Secretary at least one working day before the meeting. Participation through proxies has been highlighted as an encouraged option for consolidating attendance and participation at the AGM.