AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: We are pleased to inform you that the Board of Directors of our Company in their meeting held on September 16, 2011 at 3:00 p.m. at Siddiqsons Tower, Shahrah-e-Faisal, Karachi, recommended the following:
i. Cash Dividend
A final Cash Dividend Rs. 035 per share i.e. 7.5% for the year ended June 30, 2011. The dividend will be paid to all shareholders Except Sponsor Directors/Associated Company, i.e. they forego their dividend in Layout of the Company.
| ii. | Bonus Shares | NIL |
| iii. | Right Shares | NIL |
| iv. | Any Other Entitlement/Corporate Action | NIL |
| v. | Any Other Price Sensitive Information | NIL |
The audited financial results of the Company for the year ended June 30, 2011 are enclosed herewith.
The Annual General Meeting of the Company will be held on Thursday, October 20, 2011 at 11:30 a.m. at Imperial Lawn, Plot # C-32, Main Shahrah-e-Faisal, Karachi.
The share transfer books of the Company will be closed from October 13, 2011 to October 20, 2011 (both days inclusive). Transfer received at the Share Registrar of the Company, M/s. THK Associates (Pvt.) Limited, Ground Floor, State Life Building # 3, Dr. Ziauddin Ahmed Road, Karachi, at the close of business on October 12, 2010 will be treated in the for the purpose of above entitlement to the transferees.
Siddiqsons Tin Plate Limited Profit And Loss Account for the Year Ended June 30, 2011
| Note | 2011 | 2010 | |
| Rupees | Rupees | ||
| Sales – net | 3,305,780,604 | 3,247,870,962 | |
| Cost of goods sold | (3,019,283,304) | (2,995,234,874) | |
| ————- | ————- | ||
| Gross profit | 286,497,300 | 252,636,088 | |
| Distribution Cost | (20,315,643) | (21,072,606) | |
| Administrative expenses | (63,590,032) | (54,102,598) | |
| Other operating expenses | (62,312,739) | (32,187,247) | |
| Finance cost | (156,578,155) | (131,269,067) | |
| Other operating income | 4,783,495 | 52,606,402 | |
| ————- | ————- | ||
| (Loss)/profit before taxation | (11,515,774) | 66,610,972 | |
| Provision for taxation | 37,163,484 | (28,458,921) | |
| ————- | ————- | ||
| (Loss)/profit after taxation | (48,679,258) | 38,152,051 | |
| Other comprehensive income | – | – | |
| ————- | ————- | ||
| Total comprehensive (loss)/income for the year | (48,679,258) | 38,152,051 | |
| ————- | ————- | ||
| Earnings per share – Basic and diluted | (0.62) | 0.49 |
The annexed notes form an integral part of these financial statements
For more information, contact:
Siddiqsons Tin Plate Limited
D-53, Textile Avenue,
S.I.T.E., Karachi-75700
Tel: 92-21-2577480-9
Fax (92-21) 2572839