Karachi, Merit Packaging Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 14, 2021.

The agenda of the meeting was discussion of profit and loss account for Year ended June 30, 2021 which portrayed a loss of Rs. 564,977,564 with loss per share 7.01 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and 148%right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 12, 2021 to October 21, 2021 (both days inclusive).

Merit Packaging Limited was incorporated on January 28, 1980 in Pakistan as a public limited company. The Company is mainly engaged in the manufacture and sale of printing and packaging materials.

Merit Packaging Limited, associated with the Lakson Group of Companies. It operates a single factory in Karachi with an additional facility in Lahore. Its headquarters are located at Lakson Square, Karachi, Pakistan.

The total number of shares are 80,628,398. The Earnings per share is (8.59) in 2020 which was (3.85) in 2019. The Company had a loss of Rs. 692,679,000 in 2020 which was 310,536,000 in 2019.