Karachi: We have to inform you that the Board of Directors of our Company in their Meeting held on 27th October, 2011 at 9:30 a.m. at 801-804, 8th Floor, Lakson Square Building No. 3, Block-A, Sarwar Shaheed Road, Karachi, recommended the following:
i) Cash Dividend
An interim Cash Dividend for the quarter ended 30th September, 2011 at Rs. NIL per share i.e. NIL %. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.
ii) Bonus Issue
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%.
iii) 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. The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.
iv) Any Other Entitlement / Corporate Action Nil
v) Any Other Price-Sensitive Information Nil
The financial results of the Company are as follows:
|Sales – net||644,023,249||843,726,213|
|Cost of Sales||649,815,278||631,934,902|
|Selling and Distribution expenses||5,405,857||9,126,817|
|Operating Profit / (loss)||(19,375,392)||195,318,260|
|Other income / (Loss)||(136,783)||3,143,846|
|Workers Welfare Fund||–||666,661|
|Workers’ P.P. Fund||–||9,406,918|
|Profit/ (Loss) before taxation||(38,672,658)||178,064,779|
|Profit/ (Loss) after Taxation||(50,632,595)||182,350,918|
|Earnings / (Loss) per share||(4.21)||15.18|
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on 20th October, 2011.
The Share Transfer Books of the Company will be closed from 21-10-2011 to 27-10-2011 (both days inclusive). Transfers received at the Hameed Majeed Associates (Pvt.) Ltd, Karachi Chambers, Hasrat Mohani Road, Karachi, at the close of business on 20-10-2011 will be treated in time for the purpose of above entitlement to the transferees.
For more information, contact:
Nadeem Textile Mills Limited
801-804, 8th Floor,
Lakson Square Building No. 3,
Block-1, Sarwar Shaheed Road, Karachi
Phones: (92-21) 5220481 – 88,