Karachi: We have to inform you that the Board of Director of M/S IBL Management (Private) Limited, which manage First IBL Modaraba (FIBLM), in its board meeting held on Thursday December 08, 2011 at 10:30 a.m. at principal office, 43-1, FCC, Gulberg III, Lahore recommended as the following.
Cash Dividend NIL
Bonus Certificates NIL
Right Certificates NIL
An Other Entitlement/ Corporation Action NIL
An Other Price – Sensitive Information
The financial results of Fist IBL Modaraba are enclosed herewith.
The Annual Review Meeting (ARM) of the Modaraba will be held on December 30, 2011 at 10:00 a.m. at Auditorium of NBFI and Modaraba Association of Pakistan, 602, 6th Floor, Progressive Centre, 30 – A, Block – 6, P.E.C.H.S., Shahrah-e-Faisal, Karachi.
The Shares Transfer Books of the Company will be closed from December 24, 2011 to December 30, 2011 (both days inclusive). Transfer received at the office of Shares Registrar, M/S Progressive Management Services (Pvt.) Limited, 241-C, Block – 2, P.E.C.H.S., Off: Shahrah-e-Faisal Karachi at the close of business on December 23, 2011 will be treated in time for the purpose of above entitlement to the to the transferees.
First IBL Modaraba Profit and Loss Account For The Year Ended June 30, 2011
|Profit on musharaka financing||24,047,426||37,457,614|
|Income from Ijarah financing||6,729,639||6,689,805|
|Profit on murabaha financing||3,847,764||3,150,000|
|Return on investments||193,863||5,864,214|
|Administrative and general expenses||15,157,847||14,687,462|
|Amortization on assets subject to Ijarah||5,191,463||4,778,318|
|Amortization loss on available for sale investments||–||2,847,000|
|Impairment (gain)/ loss on re-measurement of investments|
|at fair Value through profit or loss||3,329||105,927|
|Provision against non-performing Musharaka facility||14,311,552||19,500,000|
|Operating Profit / (Loss)||(8,782,498)||2,313,390|
|Profit/ (Loss) before taxation||(8,782,498)||2,082,051|
|Profit / (Loss) after taxation||(8,782,498)||2,082,051|
|Earnings / (Loss) per certificate basic and diluted||(0.44)||0.10|
For more information, contact:
M. Sohail A. Sheikh
First IBL Modaraba
43/1 FCC Gulberg III, Lahore,
Tel: +92 42 3577 8025-7
Fax: +92 42 3577 8024