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Karachi, July 06, 2012 (PPI-OT): We are pleased to inform you that the Board of Directors of Dawood Capital Management Limited (DCM), the Management Company of Dawood Islamic Fund (DIF) in their meeting held on July 06, 2012 has approved the following distribution out of net income earned for the financial year ended June 30, 2012:
(i) Cash Dividend: Nil
And/ Or
(ii) Bonus Dividend Nil
And/ Or
(iii) Right Shares Nil
And/ Or
(iv) Any Other Entitlement/Corporate Action Nil
And/ Or
(v) Any Other Price-Sensitive Information Nil
The Net Income Statement certified by auditors is enclosed.
Dawood Islamic Fund Income Statement for the Year Ended 30 June 2012
| (Rupees) | |
| Income | |
| Profit on | |
| -Sukuks |
28,218,815 |
| – Bank balances |
7,743,589 |
| Capital gain on sale of securities – net |
660,895 |
| Dividend income |
1,552,500 |
| Unrealised loss on revaluation of investments | |
| at fair value through profit and loss – net |
(8,574,936) |
| Impairment charged in the value of investments | |
| classified as available for sale |
(38,109,928) |
|
———- |
|
|
(6,609,065) |
|
| Expenses | |
| Remuneration of the Management Company | |
| – Dawood Capital Management Limited |
4,795,145 |
| Sales tax on management fee |
767,223 |
| Remuneration of the Trustee |
700,993 |
| Annual fee of Securities and Exchange Commission of Pakistan |
303,692 |
| Securities transactions costs |
293,748 |
| Auditors’ remuneration |
435,000 |
| Amortization of preliminary expenses and floatation cost |
500,000 |
| Fees and subscription |
416,467 |
| Printing charges |
88,200 |
| Bank charges |
14,640 |
| Charity |
217,712 |
|
———- |
|
|
8,532,810 |
|
|
———- |
|
| Net loss from operating activities |
(15,041,875) |
| Element of loss and capital loss included in prices of units sold less | |
| those in units redeemed – net |
(5,085,874) |
|
———- |
|
| Net loss for the year |
(20,127,749) |
Note:
This statement has been prepared in accordance with the accounting policies of the Fund as applicable for the year ended 30 June 2012.
For more information, contact:
Dawood Capital Management Limited
5B Lakson Square Building # 1,
Sarwar Shaheed Road,
Karachi 74200 Pakistan
UAN: 111-DAWOOD (111-329-663)
Tel: (92-21) 3562-1001-06
Fax: (92-21) 3562-1010
URL: www.edawood.com
E-mail: dcm@edawood.com