Board of directors meeting of First UDL Modaraba

Board Meetings

Karachi, First UDL Modaraba informed Pakistan Stock Exchange that board of directors meeting of the company will be held on September 29, 2021 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2021.

Further, the company has declared the closed period from September 23, 2021 to September 29, 2021.

UDL Group began its operation several generations ago in 1887 and became distributors of W.D & H.O. Wills cigarettes in undivided India, to begin with. After partition of the sub-continent, several offices were established in major cities of Pakistan. Over decades since 1947, many multinationals and large Pakistani companies have held business relationships with the group. In the early 90’s the ownership and management of the group was divided into two sub-groups, within the family and once again in 2010. This part of the UDL Group is currently engaged into Islamic financing activities.

First UDL Modaraba was formed in 1991 and is managed by UDL Modaraba Management (Private) Limited. It is a perpetual, multipurpose and multidimensional Modaraba and is engaged in providing finance on Murabaha and Musharaka arrangements, Ijarah, commodity trading, manufacturing and trading of pharmaceutical products.

The total number of shares are 35,120,564. The Earnings per share is (0.09) in 2020 which was (1.71) in 2019. The Total Income of the Company is 38,296,000 in 2020 which was 34,464,000 in 2019.