Karachi: We have to inform you that the Board of Directors of our company in their meeting hold on August 29, 2011 at 08:00 p.m. at Plot No. 24-C, Shahbaz Commercial Lane-2, Phase VI, DHA, Karachi, recommended the following:
(1) Cash Dividend
A Cash Dividend for the year ended June 30, 2011 at Rs. 0.64 per share i.e. 6.4%. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil%.
(2) Bonus Shares
It has been recommended by the Board of Directors to issue Interim Bonus shares in proportion of Nil share(s) for every Nil share(s) held i.e. Nil%. This is in addition to the Interim Bonus Shares already issued @ Nil%.
(3) Right Shares
The Board has recommended to issue Nil% Right Shares at par/at a discount/premium of Rs. Nil per share in proportion of Nil share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.
Profit And Loss Account for the Year Ended 30 June 2011
|Income from leasing operations||28||11,344,091||15,869,614|
|Income from service ijarah||–||5,000,000|
|– musharaka finance||8,375,250||11,142,665|
|– murabaha finance||73,575,017||32,231,553|
|– modaraba finance||13,195,593||1,908,404|
|– diminishing musharaka finance||38,862,735||10,175,831|
|– sukuk bonds||2,889,780||2,628,790|
|– bank deposits||11,893,342||8,765,437|
|Gain on sale of investments – net||29||869,978||796,228|
|Loss on dairy farming business activities||–||(933,413)|
|Reversals of Musharaka and Ijarah losses||75,000||60,000|
|Administrative and operating expenses||32||(34,101,681)||(24,895,461)|
|Modaraba management company’s fee||33||(4,459,839)||(1,899,521)|
|Profit before taxation||40,138,552||17,095,690|
|Net profit for the year||40,138,552||17,095,690|
|Earnings per certificate||34||1.42||0.60|
(4) Any Other Price-Sensitive Information
The financial results of the company are as follows:
(See enclosed profit and loss account.)
For more information, contact:
DHA Branch: 80-C,
24th Commercial Street,
Phase II, Ext, D.H.A, Karachi.