CIC Insurance Group PLC on Thursday said its Annual General Meeting has been canceled and will be convened to a later date.
In a notice dated 17 June 2020 to its shareholders Thursday, the Board of Directors resolved to postpone the meeting due to ‘new developments being pursued in the business that requires shareholder’s approvals within the next three months.”
“In light of this and to avoid holding another general meeting so soon after the AGM, it is prudent that the company holds the AGM during the third quarter of this financial year to cover for all the necessary business,” said the Board.
The Group said the move has been approved by the Registrar of Companies for the extension of holding the AGM beyond 30 June 2020.
The CIC Group comprises CIC Life Assurance Limited, CIC General Insurance Limited, CIC Asset Management Limited and Takaful Insurance Limited.