EWIC to increase authorized share capital to Rs2.5bn

MG News | March 31, 2023 at 11:56 AM GMT+05:00

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March 31, 2023 (MLN): The Board of Directors (BoD) of East West Insurance Company Limited (PSX: EWIC) has approved to increase in the authorized capital of the company from Rs2 billion to Rs2.5bn, the company's filing on PSX showed today.

This will be divided into 250 million ordinary shares at the rate of Rs10 each.

To make this change effective immediately, the company's Memorandum and Articles of Association will need to be amended to reflect the increased authorized capital and the division of shares.

Accordingly, a special resolution will be presented at the upcoming Annual General Meeting for approval.

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