Jubilee General Insurance Company Limited Plans to Increase Authorized Share Capital in Extraordinary General Meeting

Karachi, The board meeting conducted via Zoom video link on May 30, 2023, the Board of Directors of Jubilee General Insurance Company Limited (The Company) discussed and approved the proposal to increase the authorized share capital of the company. The resolutions passed in the meeting are set to be presented at the upcoming Extraordinary General Meeting scheduled for Monday, June 26, 2023.

The primary resolution, presented as a Special Resolution, seeks approval for the increase in authorized share capital. The board proposed to raise the capital to Rs. 6,000,000,000 by introducing 350,000,000 new ordinary shares of Rs. 10 each. These additional shares will hold an equal standing in all aspects with the existing ordinary shares in the company’s capital.

The authorized share capital of the company is Rs. 6,000,000,000, divided into 600,000,000 ordinary shares of Rs. 10 each.