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Karachi, Suraj Cotton Mills Limited, following a meeting of its Board of Directors held on September 26, 2023, in Lahore, has reviewed and approved the Audited Financial Statements for the fiscal year ending June 30, 2023. The company has recommended the following entitlements for its shareholders:
1. Cash Dividend: Shareholders are entitled to a cash dividend of PKR 1 per share, equivalent to 10% of the share’s value. This cash dividend is in addition to the interim dividend of PKR NIL per share previously paid.
2. Bonus Shares: Suraj Cotton Mills Limited will issue Bonus Shares in the ratio of 10 shares for every 100 shares held by shareholders, representing a 10% bonus share entitlement.
3. Right Shares: The company plans to offer NIL Right Shares for every 100 Ordinary Shares held, priced at a premium of PKR NIL per share.
No other entitlements or price-sensitive information were recommended by the Board.
The company’s Audited financial results for the year ending June 30, 2023, have been enclosed with this announcement. The Annual General Meeting (AGM) is scheduled to take place on October 27, 2023, at the corporate Head Office in Lahore.
Shareholders eligible for the aforementioned entitlements must have their names registered in the company’s register of members by October 20, 2023.
Furthermore, the share transfer books of Suraj Cotton Mills Limited will be closed from Saturday, October 21, 2023, to Friday, October 27, 2023 (inclusive). Transfers received up to the close of business on Friday, October 20, 2023, at the company’s registrar’s office will be considered for the entitlement.
The Annual Report of the Company for the fiscal year ended June 30, 2023, will be distributed separately through PUCARS within the specified timeframe.
Below are the key financial figures from Suraj Cotton Mills Limited’s Statement of Profit or Loss for the year ended June 30, 2023:
Revenue from Contracts with Customers: Not specified in the provided information.
Cost of Sales: Not specified in the provided information.
Gross Profit: Not specified in the provided information.
Distribution Cost: Not specified in the provided information.
Administrative Expenses: Not specified in the provided information.
Other Expenses: Not specified in the provided information.
Other Income: Not specified in the provided information.
Profit from Operations: Not specified in the provided information.
Finance Cost: Not specified in the provided information.
(Loss) / Profit Before Taxation: Not specified in the provided information.
Taxation: Not specified in the provided information.
(Loss) / Profit After Taxation: (Loss) of 9.29 or (Earnings) of 62.89 per share – Basic and Diluted (in Rupees).
The post Suraj Cotton Mills Limited Announces Entitlements and AGM Date Following Approval of Audited Financial Statements appeared first on Pakistan Company News.