Annual general meeting of Biafo Industries Limited to be held on September 01, 2021

General

Karachi, Biafo Industries Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on October 27, 2021 at Karachi.

The agenda of the meeting will be confirming the minutes of Annual General Meeting held on October 27, 20, 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 approve the bonus shares at 10% declared on September 23, 2021 along with interim cash dividends of Rs. 2.00 per share (20%) declared on February 23, 2021 and Rs. 2.00 per shares (20%) declared on April 26, 2021 making a total of Rs. 4.00 per share (40%) cash dividend for the year ended June 30, 2021, 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 October 19, 2021 to October 27, 2021 (both days inclusive).

The Biafo Industries Limited was incorporated in Pakistan on September 07, 1988, as a Public Limited Company. The Company is engaged in the manufacturing of commercial explosives and blasting accessories including detonators and other materials, and started its commercial production on July 01, 1994. The Company’s license for manufacturing and sale of explosives is required to be renewed annually. They have registered office in Islamabad and their plant is located at Haripur Pakistan.

The number of shares the company has introduced are 38,332,800. The Earnings per share has decreased in 2020 and is 7.06 compare to 13.63 in 2019. The profit after taxation in 2020 is 245,871,000 which was 359,892,000 in 2019.