⚡ Flash Summary

Asia Insurance Company Limited has announced an Extraordinary General Meeting (EOGM) to be held on November 27, 2025, in Lahore. The primary agenda includes confirming the minutes of the previous Annual General Meeting and seeking shareholder approval for a related party transaction. This transaction involves leasing the 3rd floor of Asia House from the CEO, Mr. Zain ul Haq Qureshi, who is considered a related party under Companies Act, 2017. Shareholders are also invited to participate via video link and provide comments on the agenda items.

📌 Key Takeaways

• 🗓️ EOGM scheduled for November 27, 2025, in Lahore.
• 🏢 Agenda includes confirming AGM minutes from April 24, 2025.
• 🤝 Seeking approval for leasing 3rd floor of Asia House from CEO.
• 👤 CEO, Mr. Zain ul Haq Qureshi, is the lessor and a related party.
• 📜 Transaction complies with Section 208 of Companies Act, 2017.
• ✅ Lease terms reviewed and deemed fair by the Board of Directors.
• 👨‍⚖️ Audit Committee recommended the transaction for approval.
• 🏢 Monthly rent for the 3rd floor is Rs. 972,544.
• ⏳ Lease duration is 3 years, renewable after every 11 months.
• 📈 Rent includes a 10% increase clause.
• 🏢 Company currently occupies Ground, 4th, 5th, and 6th floors of Asia House.
• 🖥️ Shareholders can participate via video conference.
• 📧 Registration for video link participation required by specified email.
• ⛔ Share transfer book closed from November 20-27, 2025.
• 🗳️ Proxy voting allowed; forms must be submitted 48 hours prior.

🎯 Investment Thesis

Given the limited information and the related party nature of the transaction, a HOLD recommendation is appropriate. More information is needed regarding the company’s growth prospects, financial performance, and details of the lease agreement compared to market rates. Close monitoring of the company’s financial statements and future announcements is essential to reassess the investment thesis.