General

Karachi, Artistic Denim Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 19, 2016. The agenda of the meeting was discussion of profit and loss account for the year ended June 30, 2016 which portrayed a profit of Rs. 377,999 with earnings per share 4.50 basic and diluted respectively. Further, 2 per share i.e. 20% payment of cash dividend, bonus shares and right shares was agreed. Furthermore, the share transfer books of the company will remain closed from October 14, 2016 to October 22, 2016 (both days inclusive). Artistic Denim Mills Limited is a company incorporated in Pakistan on May 18, 1992. It is a public limited company which started its production in 1993. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is to manufacture and sell rope dyed denim fabric, yarn and value added textile products. The stocks of the company are quoted on the Karachi stock Exchange of Pakistan. The registered office of the company is located in Karachi. The company is a complete vertical unit converting cotton to finished garments. The company is equipped with rope dyeing machines with a capacity of 140,000 meters. The symbol “ADMM” is being used by the stock exchanges for the shares of Artistic Denim Mills Limited.

Karachi, Ittehad Chemicals Limited informed Pakistan Stock Exchange about appointment of Mr. Abdullah Mustafa with effect from September 19, 2016 in place of Mr. Ahmed Mustafa. Ittehad Chemicals Limited was established in 1962 under the name of United Chemicals. The operations of the company were commissioned in 1964. Under the Economic Reforms Order, United Chemicals was nationalized in 1971 along with other industries of the country and renamed as Ittehad Chemicals. The company was incorporated on September 28, 1991 and the factory was later denationalized in 1995 by the Privatization Commission of Pakistan. It operations of the company were initially managed by the Board of Industrial Management and thereafter the Federal Chemicals & Ceramics Corporation Limited under the Ministry of Production Pakistan. The registered office of the company is located in Lahore. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The business activities of ICL are manufacturing, importing, exporting, packing, repackaging of Caustic Soda, Sodium Hypo Chlorite and other allied chemicals. The products which the company manufactures include caustic soda, sodium hypochlorite, liquid chlorine, hydrochloric acid, bleaching earth, chlorinated paraffin, zinc sulphate and calcium chloride. The associated companies of ICL are Ittehad Developers and Jhelum Silk Mills Private Limited. The plant is located on GT Road for the production of Caustic Soda. The plant was set up by M/s Oronzio Denora of Italy. The symbol “ICL” is being used by the stock exchanges for the shares of Ittehad Chemicals Limited.

Karachi, Bank Alfalah Limited informed Pakistan Stock Exchange about transaction of shares of the company. 50,500 shares @ Rs. 29.40 per share were bought from the market on September 19, 2016 through stock broker. Bank Alfalah Limited was incorporated as a public limited company on June 21, 1992. The foundations of the bank are laid under the Companies Ordinance 1984. The banking operations of the company commenced from November 1, 1997. The bank is owned and operated by the Abu Dhabi Group and does business through a network of over 500 branches in more than 170 cities in Pakistan. The bank has an international presence in Afghanistan, Bangladesh, Bahrain and a representative office in the UAE. The shares of the bank are quoted on the Karachi, Lahore and Islamabad stock Exchanges of Pakistan. The registered office of the company is located in Karachi. The core operations of the bank are providing financial solutions to consumers, corporations, institutions and governments through a broad spectrum of products and services, including corporate and investment banking, consumer banking and credit, commercial, SME, agri-finance, Islamic and asset financing. The symbol “BAFL” is being used by the stock exchanges for the shares of Bank Al-Falah Limited.

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