The permission to increase the capital of Hafez insurance was issued

According to the financial news report, citing the public relations of Hafez Insurance Company, the request to increase the capital of Hafez Insurance Company from the amount of 1,858 billion Rials to 3,000 billion Rials and the issuance of new shares of Hafez Insurance Company (public shares) by the Securities Organization of the Islamic Republic of Iran. Iran has been investigated and approved under license number DPM-IOP-02A-104 dated 10/07/1402.

Based on this issue, there are cases that indicate contradictions with the laws and regulations related to the issuance of shares, and the increase of capital from the shareholders’ cash contribution and in compliance with the relevant laws and regulations is not hindered from the point of view of the said organization.

It should be noted that the issue of capital increase is done in order to comply with the requirements of the Central Insurance of the Islamic Republic of Iran in order to start the insurance activity of the company in the mainland and to modify the financial structure.

I have to say; Based on the resolution of the Extraordinary General Assembly dated 05/10/1401 of Hafez Insurance Company (Public Stock), the approval of this stage of the capital increase has been delegated to the company’s board of directors, and in this regard, a meeting with the agenda of the meeting was approved and the subscription of the second stage of the company’s capital increase was started. Three thousand billion Rials from the shareholders’ cash deposit will be held on Sunday, October 23rd, 1402 at 13:00 at Hafez Insurance Company located in Tehran, Maziris St., 29 St., No. 26, and subscription of pre-emptive rights will begin immediately for 60 days.