Karachi, Sui Southern Gas Company informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on June 18, 2016.
The agenda of the meeting was discussion of profit and loss account for six months period and quarter ended Dec 31, 2015 which portrayed a loss of Rs. 6,067,601 and Rs. 3,667,127 with loss per share 6.89 and 4.16 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Sui Southern Gas Company is an integrated gas company operating in Pakistan. The company is engaged in the business of transmission and distribution of natural gas besides construction of high pressure transmission and low pressure distribution systems. The company’s transmission system extends from Sui in Balochistan to Karachi in Sindh comprising over 3,220 KM of high pressure pipeline ranging from 12 – 24″ in diameter. The distribution activities covering over 1200 towns in Sindh and Balochistan are organized through the regional offices of the company. The company also owns and operates gas meter manufacturing plant in the country which has an annual production capacity of over 750,000 meters. The Government owns the majority of the shares which is presently over 70%. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located at Karachi.
The symbol “SSGC” is being used by the stock exchanges for the shares of Sui Southern Gas Company.