Lahore, S.S. Oil Mills Limited, a leading player in the oil industry, held a Board of Directors meeting on October 4, 2023, where they recommended various financial decisions for the fiscal year ended June 30, 2023.
CASH DIVIDEND
The board recommended no cash dividend for the fiscal year, stating that shareholders will not receive any cash payout. This decision follows the absence of any interim dividends during the year.
BONUS SHARES
The Board of Directors also recommended issuing bonus shares in the proportion of NIL shares for every NIL shares held, totaling NIL%. This bonus share issuance comes in addition to the interim bonus shares already issued at NIL%.
RIGHT SHARES
S.S. Oil Mills Limited plans to issue NIL% right shares at par/at a discount/premium of Rs. NIL per share. This right share issuance will be in the proportion of NIL shares for every NIL shares held. It was clarified that the entitlement of right shares would be declared simultaneously with the bonus shares, but it remains uncertain whether it will be applicable to the bonus shares or not.
ANY OTHER ENTITLEMENT / CORPORATE ACTION
No other entitlement or corporate action was recommended or disclosed during the meeting.
ANY OTHER PRICE-SENSITIVE INFORMATION
Similarly, no other price-sensitive information was shared in the meeting.
The company's Annual General Meeting for the fiscal year 2023-06-30 is scheduled to be held on October 28, 2023, in Lahore.
Shareholders are advised that the above entitlements will be paid to those whose names appear in the Register of Members on October 24, 2023.
Additionally, the Share Transfer Books of the company will remain closed from October 25, 2023, to October 31, 2023, inclusive. Transfers received at the 2-Tipu Block new garden town, Lahore, by the close of business on October 24, 2023, will be processed for the purpose of the above entitlements to the transferees.
The company is committed to transparency, and the Annual Report will be transmitted through PUCARS at least 21 days before the Annual General Meeting. Shareholders and stakeholders are encouraged to review the report ahead of the meeting.