AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, April 29, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their Meeting held at 05:00 P.M. on Sunday. The 28th Apr11 2013 at Gammon House, 400/2, Peshawar Road, Rawalpindi has recommended the following.
(i) Cash Dividend
An interim Cash Dividend for the Quarter Ended 31st March 2013 @ Rs. NIL per share i.e. NIL%.
(ii) Bonus Issue
It has been recommended by the Board of Directors to issue Bonus shares in proportion of NIL shares held i.e. Nil%. The bonus shares will be entitled/not entitled for the right shares.
(iii) RIGHT SHARES
The Board has also recommended to issue NIL% Right Shares at par/at a premium of its, NIL per shares in proportion of NIL shares for every NIL shares. The entitlement of right shares being declared simultaneously will be/ will not be applicable on Bonus Shares as declared above.
The Financial Results of the Company for the Quarter Ended March 31, 2013 (Un-Audited) Are As Follows-:
Quarter ended Nine Month ended
March 31, March 31, March 31, March 31,
2013 2012 2013 2012
Note Rupees Rupees
Contract income from:
- own contracts 8,645,875 18,237,868 31,822,544 29,738,609
- Joint ventures - 835,287 - 2,009,548
8,645,875 19,073,155 31,822,544 31,746,157
Contract expenditure from:
- Own contracts 10,218,856 13,386,685 54,092,348 30,975,788
- Joint ventures 48,786 659,407 122,372 1,722,281
---------- ----------- ----------- -----------
10,267,642 16,040,092 34,214,720 32,698,069
---------- ----------- ----------- -----------
Net contract (loss) / profit (1,621,767) 3,033,063 (2,392,176) (949,912)
---------- ----------- ----------- -----------
Other expenditure
Depreciation 920,098 1,049,635 2,760,273 449,005
General and administrative 3,632,268 4,363,945 14,890,595 13,534,383
expenses
Other Income (2,189,983) (1,345,417) (6,025,412) (4,494,429)
---------- ----------- ----------- -----------
2,362,383 4,068,163 11,625,456 12,188,958
---------- ----------- ----------- -----------
(Loss)/ profit from
operation (3,984,151) (1,035,100) (14,017,633) (13,138,871)
Finance cost 14,117 5,993 26,350 65,931
Allocation of loss 29,850 24,192 61,565 89,625
(Loss) / profit before taxation (3,968,418) (1,016,900) (13,982,418) (13,115,177)
---------- ----------- ----------- -----------
Taxation 165,542 306,732 483,219 651,482
---------- ----------- ----------- -----------
(Loss)/ profit after taxation (4,133,960) (1,323,632) (14,465,637) (13,766,658)
Other comprehensive income - - - -
---------- ----------- ----------- -----------
Total (4,133,960) (1,323,632) (14,465,637) (13,766,658)
---------- ----------- ----------- -----------
Earnings / (loss) (0.15) (0.05) (0.51) (0.49)
---------- ----------- ----------- -----------
The share transfer books of the Company will be dosed from 22-04-2013 to 28-04-2013, both days Inclusive. Transfer received at our Share Registration office i.e. Management and Registration Services (Private) Limited, Business Centre, F/17/3, Block 8, Clifton Karachi at the close of business on 21st April, 2013 will be treated In time for the purpose of entitlement.
We will be sending you 300 copies of printed accounts for distribution amongst the members of the Stock Exchange.
For more information, contact:
Amin ur Rasheed
Company Secretary
Gammon Pakistan Limited
Phones: 5477326-7,
Fax: 92- 51-5477511,
E-mail: gpl@gammonpakistan.com
Gammon1@dsl.net.pk
N.T.N. 2879668-3