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Karachi: KASB Modaraba informed Karachi Stock Exchange about recommendations made by the board of directors in the meeting held at Karachi on October 08, 2015.
The agenda of the meeting was discussion of un-audited interim profit and loss account for year ended June 30, 2015 which portrayed a profit of Rs. 11,154,760 and earnings per share 0.23 basic and diluted.
Further, 1.1% payment of cash dividend, nil payment of bonus shares and right shares was agreed.
The annual general meeting of the company will be held on October 31, 2015 at Karachi.
Further, the share transfer books of the company will remain closed from October 24, 2015 to October 30, 2015 (both days inclusive).
KASB Modaraba was incorporated in Pakistan under the Modaraba Companies and Modaraba Ordinance, 1980. The operations of the company are managed by KASB invest private limited which acts as a management company. The company is an Islamic financial institution extending financial facilities to its customers on Islamic principles of Shariah. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.
KASB Modaraba is a multipurpose perpetual Modaraba and is primarily engaged in ijarah financing, musharaka financing, murabaha financing, modaraba financing, diminishing musharaka and investing in listing securities.
The symbol “KASBM” is being used by the stock exchanges for the shares of KASB Modaraba.