October 20, 2022
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.
Subject: | Board Resolution for issuance of Interim Bonus Shares for the quarter ended |
September 30, 2022 |
Dear Sir,
In accordance with regulation No. 4 of the Companies (Further Issue of Shares) Regulations, 2020 and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, we enclose herewith the certified true copy of the Board resolution for issuance of Interim Bonus Shares in proportion of 35 shares for every 100 shares held i.e. 35% as passed by the Board of Director of TPL Insurance Limited in its meeting held on October 20, 2022.
Yours sincerely,
________________
Danish Qazi
Company Secretary
Cc:
Director / HOD
Securities Market Division
Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue
Blue Area, Islamabad
CERTIFIED COPY OF THE EXTRACT OF RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF M/S. TPL INSURANCE LIMITED IN ITS MEETING HELD ON 20 OCTOBER, 2022
"RESOLVED THAT the approval of the Board be and is hereby accorded to utilize a sum of Rs. 514,356,010 out of share premium account of the Company and apply towards the issuance of 51,435,601 ordinary shares of Rs. 10/- each and allot as fully paid bonus shares to the existing members of the company, in proportion of 35 shares for every 100 shares held i.e. 35 % and that such new shares, as and when issued and fully paid, shall rank pari passu with the existing equity shares."
"FURTHER RESOLVED THAT the approval of the Board be and is hereby accorded to consolidate and dispose off the fractional entitlements to existing shareholders and to distribute the proceeds of such sale, in due course, in the manner prescribed under the provisions of the applicable laws and articles of association of the Company."
"FURTHER RESOLVED THAT the Chief Executive Officer and the Company Secretary be and is hereby authorized to take all necessary actions on behalf of the Company for allotment and distribution of the said bonus shares and do all such acts, deeds, matters and things, as it may deem fit, necessary or appropriate to give effect to the above resolution."
CERTIFIED TO BE TRUE COPY
Danish Qazi | |
Company Secretary | Date: 20 October, 2022 |