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Karachi, Huffaz Seamless Pipe Industries Limited, in its latest communication to the Pakistan Stock Exchange, has reported its financial results for the year ended June 30, 2022. The announcement was made following a Board of Directors meeting held on January 22, 2024, at the company’s registered office in Karachi.
The company’s financial statement revealed a loss per share of PKR 1.94 for the year ended June 30, 2022, slightly improved from a restated loss per share of PKR 1.98 for the previous year. In their meeting, the Board of Directors decided against issuing any cash dividends for the year ending June 30, 2022, maintaining the status quo from previous interim dividend declarations, which were also nil. Additionally, the board recommended not issuing any bonus shares, maintaining their position from interim declarations, where no bonus shares were issued.
Furthermore, the Board of Directors did not recommend issuing any right shares. This decision extends to the entitlement of right shares, which would not be applicable to any bonus shares as declared above. The announcement also noted that there was no other price-sensitive information to be disclosed.
The Annual General Meeting for Huffaz Seamless Pipe Industries Limited is scheduled to be held on February 13, 2024, at the Janagarh Community Centre in Karachi. The company also announced that the share transfer books would remain closed from February 5, 2024, to February 13, 2024, for the purpose of determining entitlements to shareholders.
This financial disclosure outlines the company’s approach to shareholder dividends and rights for the year, reflecting a conservative financial strategy amidst the reported losses. The company has committed to providing copies of the annual accounts to the Pakistan Stock Exchange within five working days following the Board meeting.