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Investigation has been launched against Adamjee Insurance

Investigation has been launched against Adamjee Insurance

It has been reported that an investigation has been launched against Adamjee Insurance (AICL) as it convened a meeting of its board of directors (BODs) on Nov 11’13 without notifying the stock exchange in advance. During this meeting, the company’s BODs recommended an interim bonus shares in proportion of 182.9% – 1.8 shares for every share held – and proposed an increase in the company’s authorized capital from PkR1.5bn to PkR3.7bn.