Hafiz Textile Mills Limited’s financial results for the year ended 30-96-2011
Karachi: We have to inform you that the Board of Directors of our company in the meeting held on Thursday 6th October, 2011 at 10:30 a.m., at 97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi- 74000 recommended the following:
(i) Cash Dividend
A Final Cash dividend for the year ended 30-06-2011 @ Rs. Nil per share i.e. Nil%. This is in addition to Interim Dividend 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 shares for every Nil Share held i.e. Nil%. The Bonus shares will be entitled / not entitled for the right shares. This is in addition to the Interim Bonus Shares already issued @ Nil %.
(iii) Right Shares
The Board has also 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.
(iv) Any Other Entitlement/ Corporate Action: None
(v) Any Other Price-Sensitive Information
For The Year
For The Year
|The financial results of the Company are as under:||Rs.||Rs.|
|Cost of Goods Sold||Nil||Nil|
|Gross profit / (Loss)||Nil||Nil|
|Operating Expense (Administrative and provisions)||4,933,120||4,120,531|
|Operating Profit / (Loss)||(4,933,120)||(4,120,531)|
|Prior Years Adjustments||Nil||Nil|
|Profit (Loss) before Tax||4,493,455||3,962,143|
|Workers Participation Fund||Nil||Nil|
|Provision for Tax – Current||(1,042,874)||(591,678)|
|Net Profit for the Year||3,450,581||3,370,465|
|Accumulated (Loss) Brought Forward||(103,726,048)||(108,070,720)|
|Accumulated (Loss) Available||(100,275,467)||(104,700,255)|
|Appropriation as under:|
|Incremental Depreciation Transferred from|
|Surplus on Revaluation of Fixed Assets||1,123,028||1,138,846|
|Proposed dividend for the period ended 30-06-2010 @ Rs. Nil per|
|share (2009: @ Rs 0.75 per share)||–||(9000,000)|
|Less: Dividend waived by Directors and their family members||–||735,361|
|Dividend Payable to monority shareholders||–||(164,639)|
|Inappropriate (Loss) Carried Forward||(99,152,439)||(103,726,048)|
|Earning per share||2.88||2.81|
The Annual General Meeting of the Company will be held on 28th October, 2011 at 8:30 am. at 97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi-74000.
The above entitlement will be paid to the shareholder whose names will appear ii the Register of Members 21-10-2011.
The Share Transfer Books of the Company will be closed from 22-10-2011 to 31-10-2011 both days inclusive). Transfers received at the 97, Alliance Building 2nd Floor. Moolji Street, M.W. Towers Karachi-74000 at the close of business on 21-10-2011 will be treated in time for the purpose of above entitlement to the transferees.
For more information, contact:
Hafiz Textile Mills Limited
Registered Office No. 97, Alliance Building,
Opp. Mereweather Tower,
Mooli Street, Karachi-74000