AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, March 15, 2013 (PPI-OT): Please find enclosed a copy of the Notice of the Annual General Meeting to be held on Wednesday, April 10, 2013 at 11:30 a.m. for circulation amongst your members.
Notice of Annual General Meeting
Notice is hereby given that the 60th Annual General Meeting of Jubilee General Insurance Company Ltd. will be held on Wednesday, April 10, 2013 at 11:30 a.m. at the Auditorium, Institute of Chartered Accountants of Pakistan, Chartered Accountants Avenue, Block 8, Clifton, Karachi to transact the following business.
Ordinary Business
1. To receive, consider and adopt the Audited Accounts of the Company for the year ended December 31, 2012 together with the Auditors’ and Directors’ Report thereon.
2. To consider and approve the payment of final cash dividend of 30% (Rs. 3.00 per ordinary share of Rs.10/- each) for the year ended December 31, 2012 as recommended by the Directors of the Company.
3. To appoint Auditors of the Company for the year ending December 31, 2013 and fix their remuneration. The present auditors M/S. Ernst and Young Ford Rhodes Sidat Hyder, Chartered Accountants, being eligible, have offered themselves for reappointment.
Special Business
4. To consider and if thought fit to capitalize a sum of Rs. 177,969,840 out of the un-appropriated profits/reserves of the Company for the issuance of 17,796,984 bonus shares in the proportion of 15 (Fifteen) ordinary shares for every 100 (Hundred) ordinary shares held by the Members of the Company as at the close of business on April 01, 2013.
5. To consider and if thought fit to pass the following Resolutions with or without modification(s) as a special resolution for authorizing investment in the shares or London Bishkek Insurance Company-CJSC, Kyrgyz Republic.
Resolved that:
(a) The approval of shareholders be and is hereby accorded in term of section 208 of the Companies Ordinance, 1984 for investment of upto US $ 440,088.2 by acquisition of upto 19.5% shareholding i.e. 10,106,691.3 Ordinary Shares of London Bishkek Insurance Company-CJSC, Kyrgyz Republic, subject to the approval of State Bank of Pakistan and other regulatory approvals, if required.
(b) The Managing Director (Chief Executive) of the Company be and is hereby authorized to take any and all actions which may be required for the investment of the above mentioned amount for the acquisition of Ordinary Shares of London Bishkek Insurance Company-CJSC, Kyrgyz Republic.
Notes:
1. The Individual Members who have not yet submitted photocopy of their valid Computerized National Identity Card (CNIC) and the Corporate Members who have not yet submitted photocopy of their valid National Tax Number Certificate (NTN) to the Company are once again requested to send the same with the Folio Number at the earliest directly to Company’s Share Registrar, THK Associates (Private) Limited, Ground Floor, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi. Reference is also made to the Securities and Exchange Commission of Pakistan (SECP) notification dated August 18, 2011, SRO 779 (I) 2011, which mandates that the dividend warrants should bear CNIC number of the Individual Member or the authorized person, except in case of minor(s) and National Tax Number (NTN) of Corporate Members.
2. The Share Transfer Books of the Company will be closed for the purpose of determining the entitlement for the payment of final cash dividend and for the issuance of bonus shares from April 02, 2013 to April 10, 2013 (both days inclusive) Transfer received at THK Associates (Pvt) Ltd, Ground Floor, State Life Building No.3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on April 01, 2013 will be treated in time for the purpose of Cash Dividend and Bonus Shares entitlement to the transferees.
3. A member entitled to attend and vote at the Meeting may appoint another member as his/her proxy to attend, speak and vote at the Meeting on his/her behalf. The proxy forms must be deposited at the Registered Office of the Company not later than 48 hours before the time of the Meeting.
4. For attending the Meeting and Appointing Proxies, CDC Account Holders will further have to follow the guidelines as laid down in Circular No. 1 of 2000 dated January 26, 2000 issued by the Securities and Exchange Commission of Pakistan.
5. Members are requested to immediately inform the Company of any change in their addresses.
For more information, contact:
Atiq A. Mahmudi
Executive Director (Finance) and
Company Secretary
Jubilee General Insurance Company Limited
2nd Floor, Jubilee Insurance House,
I. I. Chundrigar Road,
P. O. Box 4795 Karachi-74000 Pakistan
UAN: 111-654-111
Tel No: 32416022-26
Fax No: 32416728-32438738,
Email: info@jubileegeneral.com.pk
Website: www.jubileegeneral.com.pk