Notices

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that Annual General Meeting of the Shareholders of Security General Insurance Company Limited (“the Company”) will be held on April 29, 2017 (Saturday) at 12:30 p.m. at SGI House, 18-C/E-1, Gulberg III, Lahore, to transact the following business: –

1. To receive, approve and adopt the audited accounts of the Company for the year ended December 31, 2016 together with the Directors’ and Auditors’ reports thereon.

2. To approve Final Cash Dividend @ 25% (i.e. Rs. 2.50 Per Share) for the year 2016, as recommended by the Board in addition to 2.50% interim dividend already paid.

3. To appoint Statutory Auditors of the Company for the year 2017 and fix their remuneration.

By order of the Board

LAHORE ( KHALID MAHMOOD CHOHAN ) MARCH 20, 2017 COMPANY SECRETARY

NOTES:
1. The Share Transfer Books of the Company will remain closed for entitlement of 25% Final Cash Dividend (i.e Rs. 2.50 per share) from 22-04-2017 to 29-04-2017 (both days inclusive). Transfers received in order at SGI House, 18-C/E-1, Gulberg III, Lahore, upto 1:00 p.m. on 21-04-2017 will be considered in time for entitlement of 25% Final Cash Dividend and attending of Annual General Meeting.

1. A member eligible to attend and vote at this meeting may appoint another member his / her proxy to attend and vote instead of him/her. Proxies in order to be effective must reach the Company’s Registered Office not less than 48 hours before the time for holding the meeting.

2. Shareholders are requested to immediately notify the change in address, if any.

INFORMATION U/S 218 OF THE COMPANIES ORDINANCE 1984.

In pursuance of Section 218 of the Companies Ordinance, 1984 the members of Security General Insurance Company Limited (“the Company”) are hereby informed that the Board of Directors of the Company in their meeting held on March 20, 2017 has revised the remuneration of Mr. Farrukh Aleem, Chief Executive Officer of the Company from Rs. 425,000/- to Rs. 550,000/- per month with effect from January 2017. There is no change in other terms and conditions of his appointment.

Statement Under Rule 4(2) of the Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2012

Name of Investee Company D. G. Khan Cement Co. Ltd. Nishat Hotels and Properties Ltd. Adamjee Insurance Co. Ltd. Nishat Mills Ltd.
Total Investment Approved: PKR 500,000,000 (Rupees Five Hundred Million Only) by way of purchase of shares was approved by members in EOGM held on October 31, 2015 for the period of three (3) years. PKR 500,000,000 (Rupees Five Hundred Million Only) by way of purchase of shares was approved by members in EOGM held on May 16, 2016 for the period of three (3) years. PKR 500,000,000 (PKR Five Hundred Million Only) in Nishat Hotels and Properties Limited in the form of working capital loan was approved by members in EOGM held on December 17, 2016 for the period of three (3) years. PKR Rs. 1,218,750,000 (Rupees One Billion Two Hundred Eighteen Million Seven Hundred Fifty Thousand Only) by way of purchase of shares was approved by members in EOGM held on December 17, 2016 for the period of three (3) years. PKR 500,000,000 (Rupees Five Hundred Million Only) by way of purchase of shares was approved by members in EOGM held on May 16, 2016 for the period of three (3) years
Amount of Investment Made to date: Rs. 19.516 Million Rs. 210.62 Million Nil Rs. 106.85 Million Nil
Reason for not having made complete Investment so far where resolution Required to be implemented in Specified time:

Partial investment has been made in investee company. Further investment will be made depending on market conditions at appropriate time.
Partial investment has been made in investee company. Further investment will be made depending on market conditions at appropriate time. No Loan has been extended after the approval because funds request has not yet been made by the investee company. Partial investment has been made in investee company. Further investment will be made depending on market conditions at appropriate time.

No investment has been made yet: investments will be made depending on market conditions at appropriate time.

Material change in financial statements of associated company or associated undertaking since date of the resolution passed for approval of investment in such company: At the time of approval, as per then available latest financial statements for the year ended June 30, 2015, the basic Earnings per Share was Rs. 17.40 and Break-up Value per Share was Rs.142.19. As per Latest available financial statements for the half year ended 31 December 2016, the Basic Earnings per share is Rs. 10.28 and Break-up Value per Share is Rs. 167.51. At the time of approval, as per then available latest financial statements for the year ended December 31, 2015, the basic Loss per Share was Rs. (0.04) and Break-up Value per Share was Rs. 9.87. As per Latest available financial statements for period ended 31 December 2016, the Basic Loss per share is Rs. (0.06) and Break-up Value per Share is Rs. 9.76. At the time of approval, as per then available latest financial statements for the year ended June 30, 2016, the basic Loss per Share was Rs. (0.05) and Break-up Value per Share was Rs. 9.87. As per Latest available financial statements for period ended 31 December 2016, the Basic Loss per share is Rs. (0.06) and Break-up Value per Share is Rs. 9.76. At the time of approval, as per then available latest financial statements for the period ended September 30, 2016, the basic Earnings per Share was Rs. 8.11 and Break-up Value per Share was Rs.49.81. At the time of approval, as per then available latest financial statements for the year ended June 30, 2015, the basic Earnings per Share was Rs. 11.62 and Break-up Value per Share was Rs. 215.56. As per Latest available financial statements for period ended 31 December 2016, the Basic Earnings per share is Rs. 7.25 and Break-up Value per Share is Rs. 266.32.

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Security General Insurance Company Limited updated its Website 31-05-2017