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Karachi, The Board of Directors of Gulistan Spinning Mills Limited convened on June 2, 2023, in Lahore, where they presented the financial results for the year ending June 30, 2021. The board made several important recommendations, including the decision not to declare any cash dividends, bonus shares, or right shares.
According to the financial statements, the company reported the following figures:
Sales – net: $67,697
Cost of sales: $44,520,941
Gross (Loss)/Profit: Not specified
Operating Cost: Not specified
Administrative and general expenses: Not specified
Other operating expenses: Not specified
Net other income: Not specified
Operating (Loss)/Profit: Not specified
Finance cost: Not specified
(Loss)/Profit before Taxation: Not specified
Taxation: Not specified
(Loss)/Profit after taxation: $(44,520,941)
The Board of Directors also approved the scheduling of the Annual General Meeting for the year ended June 30, 2021. The meeting will take place on June 24, 2023, in Karachi.
To facilitate the preparations for the Annual General Meeting, the Share Transfer Books of the Company will remain closed from June 17, 2023, to June 24, 2023 (both days inclusive).