⚡ Flash Summary

The Pakistan General Insurance Company Limited (PKGI) convened a board meeting on November 21, 2025, where key resolutions were passed, including the confirmation of minutes from the previous meeting and the decision to convene an Extra Ordinary General Meeting (EOGM) on December 15, 2025. A significant proposal to increase the authorized share capital from Rs. 500,000,000 to Rs. 2,000,000,000, divided into ordinary shares of Rs. 10 each, was approved and recommended to shareholders. Additionally, the board approved and recommended the issuance of 9,360,000 ordinary shares to Mr. Muhammad Shahzad Habib and Mrs. Bushra Shahzad, for consideration other than cash, subject to shareholder approval and regulatory compliance.

📌 Key Takeaways

• ✅ Board meeting held on November 21, 2025, at Head Office, Multan.
• 🗓️ Extra Ordinary General Meeting (EOGM) scheduled for December 15, 2025.
• ⬆️ Authorized share capital proposed to increase from Rs. 500,000,000 to Rs. 2,000,000,000.
• 💰 New authorized share capital will consist of 200,000,000 ordinary shares of Rs. 10 each.
• 📜 Amendments to Memorandum and Articles of Association approved to reflect revised share capital.
• 🤝 9,360,000 ordinary shares to be issued to Mr. Muhammad Shahzad Habib and Mrs. Bushra Shahzad.
• 🔄 Shares issued will be for consideration other than cash.
• ✅ Issuance is subject to shareholders’ approval at the EOGM.
• ✅ Compliance with all applicable laws required for share issuance.
• ✅ SECP, PSX, and CDC approvals needed for share issuance.
• 📝 Company Secretary authorized to handle all necessary filings and documentation.
• 🗣️ Valuation reports, statements, and explanatory notes to be prepared by Company Secretary.
• 👍 Minutes of the previous board meeting confirmed and approved.
• 🏢 Meeting concluded with a vote of thanks to the Chair.

🎯 Investment Thesis

HOLD. While the proposed increase in authorized share capital and the issuance of shares for non-cash consideration are potential growth catalysts, more information is needed to assess the true impact on PKGI’s financials and valuation. The company must obtain various approvals. Until there is greater clarity, a HOLD recommendation is appropriate. Price target is held steady, with a re-evaluation planned after the EOGM and regulatory approvals.