Karachi: Crescent Steel and Allied Products Limited informed Karachi Stock Exchange that annual general meeting of the company will be held on September 28, 2015 at Lahore.
The agenda of the meeting will be to receive, consider and adopt reports of Directors and Auditors together with audited annual unconsolidated financial statements for year ended June 30, 2015, to approve payment of final cash dividend of Re. 0.7 per share (i.e. @7%) for year ended June 30, 2015 and to appoint Company’s auditors for financial year ending June 30, 2016 and to fix their remuneration.
Crescent Steel and Allied Products Limited was incorporated on August 1, 1983 as a public limited company in Pakistan under the Companies Ordinance, 1984. The steel segment of the company manufactures large diameter spiral submerged arc welded steel line pipes and a pipe coating facility capable of applying multi and single layer, high density polyethylene internal and external coatings. The shares of the company are quoted on the Karachi, Islamabad and Lahore Stock Exchange of Pakistan. The registered office of the company is located at Lahore.
The steel segment operates an engineering unit, capable of fabricating and erecting reliable machinery at par with international standards. The unit is located in Faisalabad and caters primarily to the sugar, cement, paper and dairy industries. The Cotton segment comprises of two spinning units, CCP-I with 19,680 spindles and CCP-II (currently not operational) with 25,344 spindles. The Cotton segment operates under the title “Crescent Cotton Products, a division of Crescent Steel and Allied Products Limited” and with the operational unit, has the capability of producing 500 bags of high quality cotton carded yarn, in counts ranging from 6s to 30s.
The company operates two fully owned subsidiaries in the capital markets and power sectors, CS Capital Private Limited and Shakarganj Energy Private Limited, respectively.
The symbol “CSAP” is being used by the stock exchanges for the shares of Crescent Steel and Allied Products Limited.