Bonus Shares of Javedan Corporation Limited

General

Karachi, Javedan Corporation Limited informed Pakistan Stock Exchange that the Board of Directors recommended issue of 20% fully paid bonus shares i.e. in proportion of (20) ordinary shares for every hundred (100) ordinary shares held by the member whose names appear in the members register at the close of business on October 18, 2021 by capitalization of a sum of Rs. 634,767,412 out of the free reserves of the Company for the issue of 63,476,741 ordinary shares of Rs. 10 each, as bonus shares.

Javedan Corporation Limited was incorporated in Pakistan on June 08, 1961, as a public limited company. The Company has ceased its cement business since July 01, 2010 and management has developed business diversification strategy for utilizing the Company land for developing a housing scheme, Naya Nazimabad which will include bungalows, open plots, flat sites, and commercial sites.

Total number of shares the company has introduced are 317,383,706. The Earnings per shares of the Company is 0.75 in 2020 which was 1.83 in 2019. The Profit after Taxation of the Company is 236,700,000 in 2020 which was 579,800,000 in 2019.