Karachi, Noon Sugar Mills Limited informed Karachi Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on January 05, 2016.
The agenda of the meeting was discussion of profit and loss account for the year ended September 30, 2015 which portrayed a loss of Rs. (115,580) and loss per share (7.00) basic and diluted.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
The annual general meeting of the company is scheduled to be held on January 30, 2016 at Lahore.
Further, the share transfer books of the company will remain closed from January 24 to January 30, 2016 both days inclusive.
Noon Sugar Mills Limited was incorporated in 1964 as a public limited company in Pakistan. The registered office of the company is located in Lahore. The manufacturing plant of the company for manufacturing white sugar is located in the province of Punjab. The products of the company include white sugar, ethyl alcohol industrial grade and fuel grade products. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan.
The plant became operational in the year 1966. The optimum capacity of the plant is 9,000 TCD as recorded in 2006-2007. An alcohol distillery was added during 1986 with a production capacity of 50,000 liters/day in 2002. A facility with an option to provide 30,000 LPD Industrial of fuel grade ethanol was added in 2002. A fuel ethanol plant of 100,000 LPD was added in 2005. The distillery is ISO 9001 certified since 1998 which later upgraded to ISO-9001-2000. An effluent treatment plant was installed in 1997 so that bio-degradable waste water can be used as a renewable source of energy to replace 70% of fuel oil/natural gas, for generation of process steam.
The symbol “NONS” is being used by the stock exchanges for the shares of Noon Sugar Mills Limited.