Karachi, Atlas Battery Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on September 29, 2021 through video link.
The agenda of the meeting will be confirming the minutes of Annual General Meeting held on September 29, 2020, to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2021 together with the Directors and Auditors Reports thereon, to consider and approve the payment of final cash dividend at the rate of 40% Rs. 4 per share for the year ended June 30, 2021 as recommended by the Board of Directors. This is addition to 100% at Rs. 10 per share interim cash dividend already paid, to appoint auditors for the year ending June 30, 2022 and fix their remuneration and to transact any other business with the permission of the chair.
Further, the closed period of the company is from September 15, 2021 to September 29, 2021 (both days inclusive).
Atlas Battery Limited was incorporated in October 1966 and it had signed a technical collaboration agreement with Japan Storage Battery Co. Ltd., Japan in 1969 for production and sale of Japanese quality batteries in Pakistan. Atlas Battery started production in 1969.
The Company is a subsidiary of Shirazi Investments Private Limited, which holds 58.86% of issued, subscribed and paid-up capital of the Company as at June 30, 2020.
The Company manufactures a wide range of lead acid batteries suitable for passenger cars, trucks, tractors, heavy vehicles, motor cycles, construction and road-building equipment as well as stationary and industrial applications.
The numbers of shares the company has issued are 24,359,676. The Earnings per Shares in 2020 are (13.43) which was (24.32) in 2019. The Company had a loss of Rs. 327,099,000 in 2020 as compared to Rs. 592,463,000 in 2019.