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Karachi, July 08, 2013 (PPI-OT): This is to inform you that the Board of Directors of Al Meezan Investment Management Limited (AMIM) (Al Meezan) in its meeting held on July 08, 2013 at 9:30 am has approved the final cash dividend @ Rs.1.50 per certificate i.e. @ 15% for the certificate holders of Meezan Balanced Fund (“MBF”) for the year ended June 30, 2013.
The trading in the certificates of MBF at Karachi Stock Exchange as closed end fund as suspended on Monday June 17, 2013. The above Dividend will be paid to the certificate holders of closed end fund, whose name appeared in the Register as of close of Business on Friday June 14, 2013.
Final Distribution for the year ended June 30, 2013
This is to inform you that that the Board of Directors of Al Meezan Investment Management Limited (Al Meezan) in its meeting held on July 08, 2013 has approved the following final distribution to the Unit holders of the below mentioned open end funds under its management and listed at Karachi Stock Exchange (Guarantee) Limited for the year ended June 30, 2013.
Meezan Islamic Fund
A payout of Rs. 17.50 (35.00%) per unit at par value of Rs.50/-
Unit holders who opted for income Units will receive cash dividend while unit holders who have opted for Growth Units will be allocated bonus units in accordance with their entitlement. For bonus units, unit holders will get 38.9581/- units (rounded off) for every 100 units, calculated at ex-dividend net asset value per unit of Rs. 44.92 as at June 30, 2013. The payout is 42.26% on the opening net asset value per unit of Rs. 41.41/- for FY 2012-13.
Meezan Islamic Income Fund
A payout of Rs. 3.75 (7.5%) per unit at par value of Rs.50/-
Unit holders who opted for income Units will receive cash dividend while unit holders who have opted for Growth Units will be allocated bonus units in accordance with their entitlement. For bonus units will get 7.4701 units (rounded off) for every 100 units, calculated at ex-dividend net asset value per unit of Rs. 50.20 as at June 30, 2013.
This is in addition to interim payout by the fund of Rs. 3.00/- per unit.
The total distribution for FY 2012-13 is Rs. 6.75 (rounded off) per unit (13.52% of opening Ex-NAV of Rs.49.93 as at June 30, 2012 and 13.50% of par value of Rs. 50).
The registers of the unit holders of aforementioned fund remained closed from July 01, 2013 to July 08, 2013 (both days inclusive). The transaction in units will recommence from Tuesday July 09, 2013.
For more information, contact:
Syed Owais Wasti
CFO and Company Secretary
Al Meezan Investment Management Limited
Ground Floor, Block ‘B’.
Finance & Trade Centre,
Shahrah-e-Faisal, Karachi 74400, Pakistan,
UAN: 111-633-926 (111-MEEZAN)
Fax: (92-21) 3567 6143
Email: info@almeezangroup.com
Web Site: www.almeezangroup.com