Karachi, Popular Islamic Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 27, 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. 7,589,959 with loss per share 0.76 basic and diluted respectively.
Further, 4.034% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from October 19, 2021 to October 26, 2021 (both days inclusive).
Popular Islamic Modaraba is a company incorporated in Pakistan, established in 1994, floated under the Modaraba Ordinance of 1980. Popular Islamic Modaraba (Formerly: First Islamic Modaraba) is a multipurpose, perpetual and multi dimensional Modaraba, It is now managed by Popular Islamic Modaraba Management Company (Private) Limited. Formerly, managed by Islamic Investment Bank Limited (Under Liquidation). In year 2013 Popular Islamic Modaraba (Formerly: First Islamic Modaraba) has been take over the management by Popular Group of Industries. It is listed on the Pakistan Stock Exchange. It is a member of NBFI & Modaraba association of Pakistan. It is an Islamic Financial Institution providing financial facilities in accordance with Shariah constraints.
The symbol “PIM” is being used by the stock exchange for the shares of Popular Islamic Modaraba.