SHAHEEN INSURANCE COMPANY LTD.
Head Offi ce - 10th Floor, Shaheen Complex, M.R. Kayani Road, Karachi - 74200
Tel: (+9221) 32630370-75 Fax: (+ 9221) 32626674 E-mail: infoGshaheeninsurance.com Web: shaheeninsurance.com
SICL/COMP/2025/0284 April 28, 2025
The General Manager Pakistan Stock Exchange Ltd., Stock Exchange Building Stock Exchange Road, Karachi.
Certified True Copy of Resolutions passed and adopted by the Shareholders of Shaheen Insurance Companv Limited, at the 30th Annual General Meeting.
We are pleased to attach herewith a certified true copy of resolutions passed and adopted by the shareholders of Shaheen Insurance Company Limited at the Annual General Meeting of the Company held on Monday, April 28, 2025 at 3:00
p.m. at ICAP Auditorium, Institute of Chartered Accountant of Pakistan, Clifton, Karachi.
The above is submitted for information as per the Regulations 5.6.9(b) of the PSX Rule Book of Pakistan Stock Exchange Limited.
Thanking you,
Ri Akhtar
Chief ecutive Officer
Yours Sincerely,
is r Ahmed Almoni
Company Secretary
Enclosed. As slated aL›ove
SHAHEEN INSURANCE COMPANY LTD.
Head Office : 10th Floor, Slaaheen Complex, M.R. Kayani Road, Karachi - 74200
Tel: (+9221) 32630370 -75 Fax: (+ 9221) 32626674 E-mail: infoAslaaheeninsurance.com Web: sl4aheeninsurance.com
RESOLUTIONS ADOPTED BY THE SHARE HOLDERS OF SHAHEEN INSURANCE COMPANY LIMITED AT THE ANNUAL GENERAL MEETING HELD AT 3:00 PM ON MONDAY, APRIL 28, 2025 AT THE INSTITUTE OF CHARTERED ACCOUNTANTS OF PAKISTAN, CHARTERED ACCOUNTANTS AVENUE, CLIFTON, KARACHI,
ORDINARY BUSINESS
Agenda No.1 Adoption of Annual Audited Accounts for the year ended December 31, 2024.
Resolved Thot the annual audited accounts of the Company for the year ended December 31,2024 (comprising of Conventional and Window Takaful Operations) together with Directors' and Auditors' Reports and tne Review Report of the Chairman thereon be and are hereby approved and adopted by the members.
Agenda No.2 Appointment of Auditors
Resolved That the Auditors of the Company M/s. BDO Ebrahim and Co. Cnartered Accountants, who are retiring at the conclusion of this meeting, beinp eligible and willing to act as External Auditors for the year endinp December 31, 2025, be and are hereby re-appointed as Statutory Auditors of the Company till the conclusion of next Annual General Meeting at the fee / remuneration to be fixed by the Board of Directors'.
SPECIAL BUSINESS
Agenda No.3 Increase in fee for attending the Quarterly Board of
Directors' meeting
Resolved That the fee for attending the Quarterly Board of Directors' meeting only be and is hereby approved to be paid up to Rs 50,000/- per meeting for nominee director, up to Rs 100,000/- per meeting for independent director and up to Rs 75,000/- per meeting for Chairman with effect from January 01, 2025.
Further Resolved That pursuant to Section 38 and all other applicable provisions of the Com'panies Act, 2017 the Article 83 of the Articles of Association of the Company be altered as under.
Unless otherwise determined by the Company in General Meeting the remuneration of each nominee director shall be up to Rs 50,000/-, up to Rs 100,000/- for each independent director and up to Rs 75,000/- for Chairman for each quarterly Board
SHAHEEN INSURANCE COMPANY LTD.
of Directors meeting only, he / she attends, plus the actual travelling expenses incurred by him.
Resolved Further Thot the Chief Executive Officer and / or Company Secretary be and are hereby authorized to comply with the legal formalities in this regard.
Further Resolved Thot, the aforesaid resolution shall be subject to any amendment, modification, addition or deletion as may be required and such amendment, modification, addition or deletion shall not require fresh approval of members.
Agenda No.4 Increase in Authorized Share Capital of the Company.
"Resolved Thot the Authorized Share Capital of the Company be and is hereby increased from Rs 1,000,000,000/- to Rs 2,500,000,000/- and that Clause No.5 of the Memorandum of Association and Article No.6 of Articles of Association of the Company be and are hereby accordingly amended."
Further Resolved Thof, the Chief Executive Officer and / or Company Secretary be and are hereby authorized to comply with the legal formalities in this regard."
khtor
hie Executive Officer
Further Resolved Thot, the aforesaid resolution shall be subject to any amendment, modification, addition or deletion as may be required and such amendment, modification, addition or deletion shall not require fresh approval of members."
Nisor Ahmed Almoni Company Secretary