⚡ Flash Summary
Asia Insurance Company Ltd. has announced an Extraordinary General Meeting (EOGM) scheduled for November 27, 2025, to address specific business matters. The primary focus of the meeting is to obtain shareholder consent for leasing the 3rd Floor of Asia House from Mr. Zain ul Haq Qureshi, the company’s CEO, who is considered a related party. The board has reviewed the lease proposal, deeming the rent and terms fair, reasonable, and on an arm’s length basis. Shareholders are also invited to participate via video link and to provide comments or suggestions on the proposed agenda items.
📌 Key Takeaways
- 🗓️ EOGM to be held on November 27, 2025.
- 🏢 Meeting location: 19 C/D, Block L, Gulberg III, Lahore.
- 🤝 Shareholders’ consent sought for leasing the 3rd Floor of Asia House.
- 👤 Lessor: Mr. Zain ul Haq Qureshi, CEO of Asia Insurance Company Ltd.
- 💼 Related Party Transaction due to CEO being the lessor.
- 📜 Lease agreement reviewed and approved by the Board.
- ✅ Rent and terms considered fair and reasonable.
- 🏢 Additional office space needed for expanding operations and newly hired staff.
- 🏢 Current head office occupies Ground, 4th, 5th, and 6th Floors of Asia House.
- 👨⚖️ Compliance with Section 208 of the Companies Act, 2017 and related regulations.
- 🏢 Monthly rent for the 3rd floor: Rs. 972,544.
- ⏳ Lease term: 3 years, renewable after every 11 months.
- 🖥️ Video conference facility available for shareholders with >=10% shareholding.
- ✉️ Shareholders can provide comments/suggestions via email: cs@asiainsurance.com.pk.
- 📑 Share transfer book closed from November 20-27, 2025.
🎯 Investment Thesis
HOLD. While the company’s expansion plans are a positive sign, the related-party transaction introduces risks that need to be carefully monitored. Without further financial information, it is difficult to assess the true impact of this transaction on the company’s overall valuation. A neutral stance is recommended until the company’s financial performance post-expansion can be evaluated. The price target is not revised as it is contingent on future financial performance and market conditions.
Disclaimer: AI-generated analysis. Not financial advice.