TPL Insurance to increase share capital by Rs1bn

MG News | September 19, 2022 at 01:40 PM GMT+05:00

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September 19, 2022 (MLN): The shareholders of TPL Insurance Limited (TPLI) have resolved to increase the authorized share capital of the company by Rs1 billion from Rs1.5bn to Rs2.5bn, company's filing on the bourse showed today.

Further, it was resolved that the Memorandum of Association of the Company, be and is hereby amended, subject to any modifications as may be required by the Securities and Exchange Commission of Pakistan and the fulfilment of all formalities/procedures required under the applicable law by revising the following Clause V: “The Authorized capital of the Company is Rs2,500 million divided into 250 million ordinary shares of Rs10/-
each with power to increase and reduce the capital of the Company.”

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