Karachi: The D.G. Khan Cement Company Limited has recently published its annual report for the fiscal year that ended on June 30, 2024. The detailed financial documents, including the Statement of Free Float of Shares, were distributed through PUCARS and are accessible on the company's official website.
In a financial assessment issued on September 25, 2024, the annual report reveals a relatively stable free float of shares amidst varying market conditions. According to the statement signed by both the Chief Executive Officer and the Company Secretary, the free float as of the end of September 2023 was approximately 198.42 million shares. This figure represents a slight decrease from the 208.80 million shares recorded at the end of December 2023, although it showed minor fluctuations across subsequent quarters.
Specific deductions from the total outstanding shares include substantial segments like government holdings, which decreased from 20.14 million shares in September 2023 to 17.77 million by June 2024, and shares held by directors, senior management, and their associates, consistently around 73.59 million across the reported periods. The assessment further noted reductions in shares held in physical form and those held by associate companies or group companies.
This financial release was accompanied by an Independent Reasonable Assurance Report on the Statement of Free Float of Shares, carried out by the external auditors, M/s. A. F. Ferguson and Co., Chartered Accountants. This audit confirms the accuracy and transparency of the data presented in the report, reinforcing the company’s commitment to adhering to regulatory standards and providing clear insights into its financial health to its stakeholders.
According to information available from the Pakistan Stock Exchange (PSX), the free float data is essential for investors to gauge the available liquidity of shares in the market, influencing investment decisions and market perceptions regarding the company.
The company has informed all relevant stakeholders, including certificate holders of the exchange, ensuring compliance with disclosure requirements and maintaining a transparent communication channel with its investors.