Habib Sugar Mills Calls Extraordinary General Meeting to Approve Increase in Authorized Share Capital

Karachi, Habib Sugar Mills Limited has announced an Extraordinary General Meeting of shareholders, scheduled to take place on June 23, 2023, in Karachi. The primary agenda of the meeting is to discuss and seek approval for the increase in the company's authorized share capital.

The management of Habib Sugar Mills Limited has proposed to raise the authorized share capital from Rs. 750,000,000 (Rupees Seven Hundred and Fifty Million Only) to Rs. 7,000,000,000 (Rupees Seven Billion Only). This increase will be achieved by dividing the share capital into 1,400,000,000 Shares of Rs. 6/- each, as opposed to the current division of 150,000,000 Shares of Rs. 5/- each.

To implement the proposed increase in authorized share capital, the shareholders will be requested to pass special resolutions. The resolutions will authorize the Chief Executive, Chief Financial Officer, any director, and the Company Secretary to undertake all necessary actions, including the completion of legal formalities and documentation on behalf of the company.

Furthermore, the management has notified shareholders that the share transfer books of the company will remain closed from June 16, 2023, to June 23, 2023, inclusive. This closure will allow for smooth processing of the proposed changes.

Apart from the main agenda, the shareholders will have the opportunity to discuss and transact any other business with the permission of the Chairman during the Extraordinary General Meeting.

Atlas Liquid Fund Declares Dividend Distribution of 0.0576% for May 31, 2023

Karachi, In a recent announcement, the management company and investment committee of Atlas Liquid Fund (ALF) revealed that they have received authorization from the Board of Directors to distribute dividends to their unit holders. The approved payout amounts to Rs. 0.2881 per unit, equivalent to 0.0576% of the fund's par value.

This dividend distribution will be allocated to the unit holders whose names were listed in the register of unit holders of the Fund at the close of business on May 31, 2023. The decision comes as a result of the fund's performance and its commitment to providing returns to its investors.

For further information or any queries regarding the dividend distribution, unit holders are advised to contact the Atlas Liquid Fund's management company or refer to the official communication channels provided by the Fund.

UBL Fund Managers Approve Interim Cash Dividends for Special Savings Plans and Al-Ameen Islamic Cash Plan

Karachi, UBL Fund Managers Limited, under the authority granted by its Board of Directors, has announced the approval of interim cash dividends for three of its investment plans. The distributions will be credited to unit holders whose names appeared in the register of unit holders at the close of business on June 1, 2023.

Under the UBL Special Savings Plan-V, an interim cash dividend of Re.0.0553 per unit, equivalent to 0.06%, has been approved for the period ended June 1, 2023. Similarly, for the UBL Special Savings Plan-VII, an interim cash dividend of Re.0.0506 per unit, equivalent to 0.05%, has been authorized for the same period.

In addition, the Al-Ameen Islamic Cash Plan-I, operating under the AL-AMEEN ISLAMIC CASH FUND, will distribute an interim cash dividend of Re.0.0517 per unit, also equivalent to 0.05%, for the period ended June 1, 2023.

The Chief Executive Officer of UBL Fund Managers Limited has granted the necessary approvals for these interim distributions, providing unit holders with a return on their investments. This move is in line with the company's commitment to delivering value to its stakeholders.

Unit holders are advised to review their account details and expect the credited interim cash dividends according to their respective investment plans.

Modaraba AI-Mali Announces Schedule for Handling Unpaid Rights

Karachi, Modaraba AI-Mali has released a comprehensive schedule for the handling of unpaid rights through the Central Depository System (CDS). The company aims to ensure a smooth and efficient process for its stakeholders. Here are the key dates and activities related to the unpaid rights:

Book Closure Dates: May 23 to May 29, 2023

Right Ratio: 14.3445027818%

Right Security Name & Symbol: Modaraba AI-Mali

Right Security ISIN: PK0032803022

Banker to the Right Issue: All Branches of Faysal Bank Limited & JS Bank Limited

The following activities are associated with the handling of unpaid rights:

1. Commencement of trading of unpaid Right (LOR) at Stock Exchange: Tuesday, June 6, 2023.

2. Last date for initiation of withdrawal request: Monday, June 12, 2023.

3. Last date for initiation of deposit request: Wednesday, June 14, 2023.

4. Last date of trading at Stock Exchange: Friday, June 23, 2023.

5. Last date for initiation of Pledge request: Tuesday, June 27, 2023.

6. Last date for movement of securities (Only allowed Free Delivery Transaction): Tuesday, June 27, 2023.

7. Last date of Subscription request & payments: Wednesday, July 5, 2023.

8. Last date of Pledge release and Pledge call: Wednesday, July 5, 2023.

9. Tentative date for credit of shares against rights issue: Tuesday, July 25, 2023.

Modaraba AI-Mali is committed to ensuring that all shareholders are able to exercise their rights effectively. They have designated Faysal Bank Limited and JS Bank Limited as bankers to the right issue, facilitating smooth transactions.

Investors are encouraged to take note of the schedule and adhere to the deadlines for various activities to ensure a seamless experience. Modaraba AI-Mali aims to maintain transparency and provide the utmost convenience to its valued shareholders throughout the handling of unpaid rights.

Zahidjee Textile Mills Limited Announces Board Meeting Outcome and Plans for Capital Increase

Karachi, Zahidjee Textile Mills Limited revealed significant decisions pending approval by its members. The meeting resulted in the following resolutions, which could potentially shape the future of the company:

1. Capital Increase:

The board of directors approved a proposal to increase the authorized capital of Zahidjee Textile Mills Limited. Currently set at PKR 2,200,000,000 (Rupees two billion two hundred million only), divided into 220,000,000 ordinary shares of PKR 10 each, the authorized capital is set to rise significantly. Pending member approval, the proposed increase would raise the authorized capital to PKR 13,500,000,000 (Rupees thirteen billion five hundred million only). The augmented capital will be divided into 1,350,000,000 ordinary shares, also valued at PKR 10 each. Accompanying this change, the company intends to alter its Memorandum and Articles of Association accordingly.

2. Extraordinary-General Meeting:

Zahidjee Textile Mills Limited has scheduled an extraordinary-general meeting to finalize these proposals and seek approval from its members. The meeting will take place on Saturday, June 24, 2023, at the company's registered office. The timing is set for 3:00 p.m., and all members are encouraged to attend and participate actively in the decision-making process.

Honda Atlas Cars (Pakistan) Limited Transmits Annual Report for Fiscal Year 2023

Karachi, In a recent announcement, Honda Atlas Cars (Pakistan) Limited has successfully transmitted its highly anticipated Annual Report for the fiscal year ending on March 31, 2023. The comprehensive report is now accessible to the public on the company's official website, providing valuable insights into Honda Atlas Cars' performance and achievements during the specified period.

Pakistan International Airlines Releases Quarterly Report for 1st Quarter 2023, Now Available on Company’s Website

Karachi, Pakistan International Airlines Corporation Limited (PIA) has transmitted its highly anticipated Quarterly Report for the period ended March 31, 2023. The comprehensive report, which sheds light on the airline's financial performance and key achievements, is now accessible to the public on the company's official website.

PIA has been diligently working to provide transparency and accountability to its stakeholders. The recently released quarterly report serves as a crucial tool for investors, analysts, and aviation enthusiasts to assess the airline's progress and make informed decisions.

The report encompasses a range of essential financial indicators, including revenue growth, operating costs, net profit, and cash flow. It also highlights any significant events, milestones, or challenges that PIA encountered during the first quarter of 2023. By sharing these insights, the airline aims to foster trust and confidence among its shareholders and the broader market.

Agha Steel Industries Board Meeting to Discuss Increase in Authorized Capital; Closed Period Declared

Karachi, Intriguing Developments at Agha Steel Industries Board Meeting

Agha Steel Industries Limited has announced an upcoming board meeting, scheduled for June 2, 2023, at 03:00 in Karachi. The primary agenda of this highly anticipated gathering will be to deliberate on the proposal for increasing the company's authorized capital.

The decision to convene the board meeting comes at a time when Agha Steel Industries is aiming to fortify its financial standing and expand its operations. By increasing the authorized capital, the company seeks to gain additional flexibility in pursuing growth opportunities and strategic initiatives.

In tandem with this important event, Agha Steel Industries has also declared a "Closed Period" starting from June 2, 2023, until further notice. During this period, which spans until June 6, 2023, no Director, CEO, or Executive of the company is permitted to engage in any transaction involving the shares of Agha Steel Industries, either directly or indirectly.

The declaration of the Closed Period is a standard regulatory practice designed to ensure fairness and prevent any potential conflicts of interest or insider trading. It highlights the company's commitment to maintaining transparency, integrity, and fair market practices.

Exide Pakistan Limited Board Recommends Increase in Authorized Share Capital and Capitalization of Resources

Karachi, In a recent meeting held in Karachi, the Board of Directors of Exide Pakistan Limited made significant recommendations for the future of the company. The board suggested increasing the authorized share capital from Rs. 180,000,000 to a staggering Rs. 5,000,000,000, resulting in a division of 500,000,000 ordinary shares of Rs. 10 each. This proposal, if approved, would lead to a substantial expansion of the company's capital base.

Additionally, the board recommended alterations in the Memorandum and Articles of Association of the company, in line with the proposed increase in authorized share capital. These changes are crucial to accommodate the company's growth plans and align with the evolving market dynamics.

Furthermore, the board put forth a recommendation for the alteration of the Articles of Association regarding the capitalization of resources. This move aims to optimize the utilization of available resources and enhance the company's financial capabilities.

To finalize these important decisions, an Extraordinary General Meeting has been scheduled for June 23, 2023, to be held in Karachi. Shareholders will have the opportunity to express their views and vote on the proposed business. The meeting will be conducted in person at the designated venue or online via Loom, ensuring widespread participation.

The notice for the Extraordinary General Meeting will be sent to shareholders in due course, providing them with all the necessary information and documents related to the meeting agenda.

Pakistan Oxygen Limited Board Meeting to Discuss Agenda Other Than Financial Results; “Closed Period” Announced for Trading of Company Shares

Karachi, Pakistan Oxygen Limited has scheduled a Board of Directors meeting at its headquarters in Karachi on June 2, 2023. The meeting aims to deliberate on an agenda that does not pertain to financial results.

The company has declared a "Closed Period" commencing from June 2, 2023, and concluding on June 30, 2023. As per the announcement, this period prohibits any transactions involving the shares of the company by its Directors, CEO, or Executives, both directly and indirectly.

The declaration of the "Closed Period" is a customary practice undertaken by companies to ensure fairness, transparency, and compliance with regulations. During this time frame, individuals with inside knowledge or sensitive information are prohibited from trading the company's shares. Such a restriction helps safeguard the interests of shareholders and maintains the integrity of the market.

While the specific details regarding the non-financial agenda of the upcoming Board meeting have not been disclosed, it signifies the company's commitment to addressing diverse aspects of its operations beyond financial matters. This strategic approach reflects Pakistan Oxygen Limited's efforts to enhance its overall business performance, explore new opportunities, or evaluate alternative strategies to boost growth.