Habib Bank Limited’s Substantial Shareholder, AGA KHAN FUND FOR ECONOMIC DEVELOPMENT, Increases Stake through Multiple Share Purchases

Habib Bank Limited, one of the leading banks in the region, witnessed a series of substantial share purchases by AGA KHAN FUND FOR ECONOMIC DEVELOPMENT, a prominent shareholder. The transactions, carried out on May 12, 2023, demonstrate the fund's confidence in the bank's future prospects.

In the first transaction, AGA KHAN FUND FOR ECONOMIC DEVELOPMENT acquired 5,101 shares of Habib Bank Limited at a rate of 73.47. The purchase was made through CDC (Central Depository Company), and the shares were ready for trading on the market.

Huffaz Seamless Pipe Industries Limited Announces Financial Results for Year Ended June 30, 2021 and Recommends Dividend

Karachi, In a recent meeting held on May 13, 2023, the Board of Directors of Huffaz Seamless Pipe Industries Limited in Karachi has recommended several financial measures and shared the company's annual financial results for the year ended June 30, 2021.

The board recommended a Final Cash Dividend for the mentioned period at Rs NIL % per share, which will be in addition to the interim Dividend(s) already paid at Rs NIL % per share.

Furthermore, the board proposed the issuance of Bonus shares in the proportion of NIL share(s) for every NIL share(s) held, in addition to the Interim Bonus shares already issued at NIL%.

The board did not recommend any Right Shares or any other entitlement/corporate action. Additionally, no other price-sensitive information was provided.

Looking at the company's financial results, for the year ended June 30, 2021, the revenue from contracts with customers (Net) stood at Rs 97,243,000 compared to Rs 341,615,000 in the previous year. The cost of revenue from contracts with customers was reported as Rs 166,602,000, resulting in a gross profit of (Rs 69,359,000) as compared to Rs 73,457,000 in the previous year.

The statement of profit or loss also indicates that the company incurred selling and distribution costs of Rs 7,197,000 and administrative expenses of Rs 27,010,000, resulting in a loss of (Rs 105,826,000) after taxation.

The Annual General Meeting of Huffaz Seamless Pipe Industries Limited is scheduled to take place on June 8, 2023, in Karachi. Shareholders whose names appear in the Register of Members on May 6, 2023, will be entitled to the recommended dividends. Moreover, the share transfer books of the company will remain closed from May 31, 2023, to June 8, 2023, inclusive.

Crescent Cotton Mills Limited Elects New Directors for a Three-Year Term

Karachi, In an Extra Ordinary General Meeting held at Faisalabad today, Crescent Cotton Mills Limited announced the election of a new board of directors for a three-year term, commencing from May 18, 2023. The election marks an important milestone for the company as it looks to strengthen its leadership team and drive future growth.

The newly elected directors bring a diverse range of experience and expertise to Crescent Cotton Mills Limited. Leading the board is Mr. Abid Mahmood, who has a proven track record in the textile industry and is expected to provide strategic guidance and vision to the company. Joining him are Mr. Adnan Amjad, Mr. Naveed Guizar, Miss Nazish Arshad, Mr. Salman Rafi, Mrs. Shameen Azfar, and Mr. Taimur Amjad, all of whom possess valuable insights and skills relevant to the textile and manufacturing sectors.

Fateh Industries Limited Announces Extraordinary General Meeting for Director Election

Karachi, The Board of Directors of Fateh Industries Limited convened on Monday and made a crucial decision regarding the company's governance. It was determined that an Extraordinary General Meeting (EGM) would take place on 26th June, 2023 in Hyderabad specifically for the purpose of electing new directors to the board.

In preparation for the EGM, Fateh Industries Limited also announced the closure of its Share Transfer Books for a period of seven days. Shareholders and investors are advised that the books will remain closed from 20th to 26th June, 2023, inclusive of both days.

Lotte Chemical Corporation Signs Agreement to Sell Majority Shares of Lotte Chemical Pakistan Limited

Karachi, Lotte Chemical Corporation (LCC Korea), the majority shareholder of Lotte Chemical Pakistan Limited, has finalized an Assignment and Assumption Agreement with Lucky Core Industries Limited and its subsidiary, Lucky Core Ventures (Private) Limited. This agreement pertains to the Share Purchase Agreement dated January 26, 2023, through which LCC Korea will sell its substantial holding of 1,135,860,105 shares of the company.

The agreement marks a strategic move by LCC Korea to divest its majority stake in Lotte Chemical Pakistan Limited, an important subsidiary in its global portfolio. Lucky Core Industries Limited, a renowned player in the industry, emerges as the purchaser of these shares, solidifying its presence in the chemical sector.

Highnoon Laboratories Limited Credits Final Cash Dividend of Rs. 20 per Share to Shareholders’ Bank Accounts

Karachi, Highnoon Laboratories Limited, a leading pharmaceutical company, has electronically credited the final cash dividend of Rs. 20 per share, amounting to 200% for the year ended December 31, 2022, into the designated bank accounts of its shareholders. The dividend distribution took place on May 12, 2023, marking a significant milestone for the company and its investors.

Mughal Iron & Steel Industries Announces Book Closure for Sukuk Certificate – I Rental and Principal Payment

Karachi, Mughal Iron & Steel Industries Limited has issued a notice regarding the book closure for the 9th rental and 5th principal payment of their Sukuk Certificates - I. The payment is scheduled for June 2, 2023. To accurately determine the entitlement of sukuk holders, the company has announced that the transfer books will be closed from May 26, 2023, to June 2, 2023, inclusive of both days.

During this period, the company will not process any transactions related to the Sukuk Certificates - I. Shareholders are advised to take note of the book closure dates and ensure that any Central Depository System (CDS) Transaction IDs are received by the Share Registrar, M/S THK Associates (Private) Limited, in Karachi, before the close of business on May 25, 2023.

Only those transactions received on or before the specified date will be considered for the timely processing of rental and principal payments to the sukuk holders. It is essential for sukuk holders to comply with the given timeline to ensure their entitlement to the upcoming payments.

Mughal Iron & Steel Industries Limited continues to uphold its commitment to providing timely and transparent communication to its shareholders and sukuk holders.

Honda Atlas Cars Pakistan Limited Set to Resume Plant Operations Following Work Suspension

Karachi, In a promising development, Honda Atlas Cars Pakistan Limited has announced its plans to restore plant operations after a period of work suspension. The company had previously conveyed an intimation of work suspension until May 15, 2023, citing various challenges in the supply chain.

Thanks to the unwavering efforts of the company and a slight improvement in accessibility to trade finance facilities, Honda Atlas Cars Pakistan Limited is now preparing to resume production in the upcoming weeks. With optimism in the air, the company aims to gradually increase production output.

The decision to resume plant operations comes as a relief to both employees and stakeholders who were affected by the work suspension. Honda Atlas Cars Pakistan Limited is a renowned automotive company known for its high-quality vehicles and has a significant presence in the Pakistani market.

Pak Suzuki Motor Company to Hold Corporate Briefing Session for Analysts and Shareholders

Karachi, In an effort to keep stakeholders informed and engaged, Pak Suzuki Motor Company has announced its plans to conduct a Corporate Briefing Session (CBS) for analysts and shareholders. The session aims to provide a comprehensive overview of the company's performance and future prospects.

The CBS will take place on May 17, 2023, and will be accessible both in-person and online via a video link facility. Interested participants, including analysts and shareholders, who wish to attend the session electronically, can register by emailing their credentials to company.secretary@paksuzuki.com.pk before 11:00 am on May 17, 2023. The subject title of the email should be "Registration for PSMC CBS 2023."

Security Investment Bank Limited Announces Corporate Briefing Session to Discuss Company’s Performance and Future Outlook for 2022

Karachi, Security Investment Bank Limited has scheduled a Corporate Briefing Session to discuss the company's performance, financials, and future outlook for the year 2022. The senior management of the company will provide insights into the company's achievements and plans for the future.

The briefing session is set to take place on May 23rd, 2023, at 11:00 A.M. local time in Karachi, Pakistan. To ensure widespread participation, the company has also arranged a video link facility via Zoom for interested investors, analysts, and shareholders.

Participants attending the session remotely will be required to complete necessary verification and identification procedures before being granted access to the proceedings. Detailed instructions and the session link will be emailed directly to registered participants using the valid email addresses provided during registration.