⚡ Flash Summary

Pakistan General Insurance Company Limited (PKGI) has announced an Extraordinary General Meeting (EOGM) to be held on December 15, 2025. The primary agenda items include increasing the authorized share capital from PKR 500,000,000 to PKR 2,000,000,000 and issuing up to 93,600,000 ordinary shares for consideration other than cash to Mr. Shahzad Habib and Mrs. Bushra Shahzad, in equal proportion. This move is aimed at complying with minimum capital requirements set by the Securities and Exchange Commission of Pakistan (SECP) and strengthening the company’s capital base. The issuance is linked to acquiring a commercial property and requires shareholder and SECP approval.

📌 Key Takeaways

• 🗓️ EOGM is scheduled for December 15, 2025, at 11:00 a.m. at the Head Office in Multan.
• ⬆️ Authorized share capital to increase from PKR 500 million to PKR 2 billion.
• 🏢 The number of ordinary shares will increase from 50,000,000 to 200,000,000, each with a face value of PKR 10.
• ✅ Approval sought for amendments to the Memorandum and Articles of Association to reflect the increased authorized capital.
• 🤝 Issuance of up to 93,600,000 Ordinary Shares to Mr. Shahzad Habib and Mrs. Bushra Shahzad.
• 🔄 Shares will be issued for consideration other than cash, specifically for a prime commercial property.
• ⚖️ The share issuance is subject to compliance with Section 83(1)(b) of the Companies Act, 2017, and SECP approval.
• 🏦 The property being considered for the share issuance is valued by Al-Hadi Legal and Financial Consultants.
• 🎯 The purpose of the share issuance is to meet minimum capital requirements notified by SECP vide SRO.310(I)/2025.
• 📈 This issuance will increase the existing paid-up capital share by up to 187.2%.
• 🛑 Share transfer books will be closed from December 8, 2025, to December 15, 2025.
• 💻 Online participation in the EOGM is facilitated, with registration required by December 8, 2025.
• ✉️ Shareholders can send comments and suggestions by December 12, 2025, to info@pgi.com.pk.
• 🚫 Distribution of gifts to members at or in connection with general meetings is strictly prohibited as per SECP directives.
• 🗳️ Members can exercise their right to poll/postal ballot, subject to meeting the requirements of the Companies Act, 2017.

🎯 Investment Thesis

HOLD. While the company is taking steps to strengthen its capital base and meet regulatory requirements, it has remained dormant for an extended period. The proposed equity issuance to key shareholders signals confidence from within, but the absence of recent operational data warrants a wait-and-see approach. A price target is difficult to establish due to the company’s operational dormancy but HOLD until more is known about the company’s financial performance after its operational revival.