Ansari Sugar Mills Limited Announces 29th Annual General Meeting on August 16, 2023

Karachi, Ansari Sugar Mills Limited has notified its shareholders of the upcoming 29th Annual General Meeting scheduled to take place on August 16, 2023, at Hyderabad Sindh. The meeting will address several key matters, including the confirmation of minutes from the Extra Ordinary General Meeting held on March 21, 2018.

Among the agenda items, the company will present and seek approval for the Audited Financial Statements for the year ended September 30, 2018, along with the Directors' report and the Auditors' report. These financial statements have been made available on the official website of the company ( as per the requirements of section 223(7) of the Companies Act 2017.

Another significant aspect of the meeting will involve appointing auditors and determining their remuneration for the years ended September 30, 2019, September 2020, September 2021, and September 2022. M/s JASS Associates Chartered Accountant, the present auditors, will seek reappointment after having retired and becoming eligible for reappointment.

Moreover, the election of seven Directors for a three-year term, beginning from August 16, 2023, will be conducted in accordance with the provision of section 159(1) of the Companies Act 2017. The selection of competent directors will play a vital role in guiding the company's future strategies and decisions.

Shareholders are encouraged to participate actively in the Annual General Meeting to exercise their voting rights and contribute to the company's governance and growth.

Pakistan Tobacco Company Limited Reports Impressive Financial Results for the Quarter and Half-Year Ended June 30, 2023

Karachi, In a recent Board of Directors meeting held at Pakistan Tobacco Company's Akora Khattak Factory, the company announced its financial results for the quarter and half-year ended June 30, 2023. The results showcased a robust performance, with notable growth in both domestic and export turnovers.

For the quarter ended June 30, 2023, the domestic turnover reached Rs 73,623,262, showing a substantial increase compared to the same period last year, which recorded Rs 59,132,239. Similarly, the export turnover amounted to Rs 1,120,658, further contributing to the company's positive financial standing.

The gross turnover for the quarter stood at Rs 74,743,920, significantly surpassing the previous year's figure of Rs 60,615,171. Despite facing excise duties and sales tax, the net turnover remained impressive at Rs 23,514,190.

On the profit side, Pakistan Tobacco Company Limited demonstrated remarkable results. The operating profit for the quarter reached Rs 9,524,797, reflecting substantial growth from the previous year's Rs 8,523,735.

The finance income also played a pivotal role in boosting the company's financial performance, with a net finance income of Rs 1,671,036, significantly higher than the previous year's Rs 477,448.

After accounting for income tax expenses, the company reported a profit of Rs 4,297,860 for the quarter, showcasing a notable increase from the previous year's Rs 3,625,703.

For the half-year period ended June 30, 2023, Pakistan Tobacco Company Limited reported a cumulative domestic turnover of Rs 131,113,598, while export turnover amounted to Rs 2,351,506. The gross turnover for the half-year reached Rs 133,465,104, and the net turnover stood at Rs 46,098,083.

The company's exceptional performance is reflected in the earnings per share (EPS) figures, which showed an increase in both the quarter and half-year periods, with an EPS of Rs 16.82 and Rs 43.22, respectively.

Kohat Cement Company Repurchases 141,525 Shares Through Buy-Back Plan at PKR 177.16 Per Share

Karachi, Kohat Cement Company Limited, in adherence to the Special Resolutions passed in the Extraordinary General Meeting held on February 21, 2023, has successfully executed its share buy-back plan. As per Regulation 6(e) of the Listed Companies (Buy-Back of Shares) Regulations, 2019, the company has purchased a total of 141,525 of its own shares through the Pakistan Stock Exchange Limited.

The buy-back transactions were conducted on July 24, 2023, at an average price of PKR 177.16 per share. This strategic move by Kohat Cement Company signifies the company's confidence in its financial position and indicates the efficient utilization of its resources.

Shareholders and investors will closely monitor the impact of this buy-back on the company's shareholding structure and potential implications for future dividend distributions and market performance. The buy-back decision is expected to have positive implications on the company's overall value and may be of interest to stakeholders in the cement industry and the market at large.

Siemens (Pakistan) Engineering Removes Mr. Markus Strohmeier as Director in Extraordinary General Meeting

Karachi, Siemens (Pakistan) Engineering held an Extraordinary General Meeting on July 25, 2023, where significant resolutions were passed, including the removal of Mr. Markus Strohmeier from the position of Director of the company.

Resolution No. 2 was approved, stating that in light of Mr. Markus Strohmeier's ceasing to hold office as Managing Director / CEO of the company and the board's decision to remove him from the position of Director, shareholders granted approval for his removal pursuant to Section 163 of the Companies Act, 2017.

Furthermore, the Company Secretary was empowered and authorized to undertake all necessary actions, including filing forms and notices with relevant regulatory authorities like SECP (Securities and Exchange Commission of Pakistan) and PSX (Pakistan Stock Exchange) to ensure compliance with applicable laws and regulations.

Colgate-Palmolive (Pakistan) Limited to Hold Board Meeting to Discuss Year-End Financial Statements

Karachi, Colgate-Palmolive (Pakistan) Limited has announced a Board of Directors meeting scheduled for July 31, 2023, in Karachi. The meeting's agenda includes discussions on the audited financial statements of the Company for the year ended June 30, 2023.

Additionally, the company has declared a "Closed Period" from July 24, 2023, to July 31, 2023 (both days inclusive) as per Clause 5.6.4 of PSX regulations. During this period, no Director, CEO, or Executive is permitted to engage in any direct or indirect dealings with the shares of the Company.

Tariq Glass Industries to Hold Extraordinary General Meeting for Election of New Board of Directors

Karachi, Tariq Glass Industries Limited has announced that an Extraordinary General Meeting (EOGM) of its members will take place on September 01, 2023, at Lahore to convene the election of the new board of directors.

The Board has decided to elect seven directors for the next term, commencing from September 3, 2023, to September 2, 2026.

In compliance with Regulation 5.5.11 of the Rule Book of PSX, the share transfer books of the Company will remain closed from August 26, 2023, to September 01, 2023. Share transfers received by the Share Registrar's office, M/s Shemas International (Private) Limited, by the close of business hours on August 25, 2023, will be treated in time for the purpose of transfer of shares or voting rights.

Agriauto Industries Board Meeting to Consider Corporate Actions; Declares Closed Period from July 25 to July 31, 2023

Karachi, Agriauto Industries Limited has scheduled a Board of Directors meeting on July 31, 2023, at Karachi to discuss certain corporate actions. Following the meeting, any price-sensitive information will be promptly shared with the Pakistan Stock Exchange (PSX) as per regulatory requirements.

In adherence to Clause 5.6.4 of PSX Regulations, Agriauto Industries Limited has declared a "Closed Period" from July 25 to July 31, 2023. During this period, no Director, CEO, or Executive of the company is allowed to engage in any direct or indirect dealings with the shares of the Company.

The upcoming Board meeting holds significance for investors and stakeholders as it may lead to important decisions that could potentially impact the company's future prospects and market performance. The closed period ensures that trading activities related to the company's shares remain fair and unbiased during the time of crucial decision-making.

Shahmurad Sugar Mills Recommends Cash Dividend of Rs. 15 per Share and Bonus Issue for Shareholders

Karachi, In their meeting held on July 24, 2023, the Board of Directors of Shahmurad Sugar Mills Limited made significant recommendations for shareholders. The key points include:

1. Cash Dividend: An Interim Cash Dividend for the period ended June 30, 2023, at the rate of Rs. 15.00 per share, i.e., 150% of the face value. This is in addition to the Interim Dividend of Rs. 15.00 per share (150%) already paid previously.

2. Bonus Issue: The Board recommended issuing Bonus Shares in the proportion of NIL share(s) for every NIL shares held, i.e., NIL%. This is in addition to the Interim Bonus Shares already issued at NIL%.

3. Right Shares: The Board further proposed issuing NIL % Right Shares at par/at a discount/premium of Rs. Nil per share in proportion to NIL share(s) for every NIL shares. The entitlement of Right Shares will be declared simultaneously and will not be applicable to the Bonus Shares as declared above.

4. Other Corporate Actions: No other entitlement or corporate action was recommended.

Additionally, Shahmurad Sugar Mills Limited provided their Condensed Interim Statement of Profit or Loss (Un-Audited) for the Nine Months Period Ended June 30, 2023. The company's financial results showed a significant increase in sales and gross profit compared to the same period in the previous year.

The Shares Transfer Book of the Company is set to be closed from August 08, 2023, to August 10, 2023 (both days inclusive). Transfers received at the Registrar's Office of the company before the close of business on August 07, 2023, will be treated in time for the purpose of transfer/entitlement.

MCB Bank Limited Board to Discuss Half Yearly Financial Statements in Upcoming Meeting

Karachi, The Board of Directors of MCB Bank Limited has scheduled a meeting on August 02, 2023, to convene at Lahore, Pakistan, or virtually via Zoom. The primary agenda of the meeting is to review and approve the Half Yearly Financial Statements of the Bank for the period ending June 30, 2023, and to consider the declaration of entitlement, if applicable.

As per the regulatory requirements under Clause 5.6.4 of PSX Regulations, the bank has declared a "Closed Period" starting from July 26, 2023, until August 02, 2023. During this period, no Director, CEO, or Executive of the bank shall engage in any direct or indirect dealings with the shares of the Bank.

The upcoming meeting holds significance for shareholders and investors, as it will shed light on the financial performance and position of MCB Bank Limited for the first half of 2023. The Bank's financial statements, once approved, will be made publicly available, contributing to transparency and investor confidence in the financial sector.

Atlas Asset Management Limited to Consider Interim Distribution for Five Funds in Upcoming IC Meeting

Karachi, Atlas Asset Management Limited (AAML) has scheduled a meeting of the Investment Committee (IC) on July 21, 2023, to discuss and approve the interim distribution, if any, for five funds under its management. The funds include Atlas Money Market Fund (AMF), Atlas Sovereign Fund (ASF), Atlas Income Fund (AIF), Atlas Islamic Income Fund (AllF), and Atlas Islamic Money Market Fund (AIMF). Unit holders whose names appear in the Register of Unit Holders as of July 20, 2023, will be entitled to the distribution, if any, as approved by the IC on behalf of the Board.

Fauji Foods Limited Announces Board’s Decision: No Dividend, Bonus Shares, or Rights Issue for Shareholders

Karachi, In a recent meeting held on July 21, 2023, the Board of Directors of Fauji Foods Limited has recommended no cash dividend, bonus shares, or rights shares for its shareholders. Additionally, there is no other entitlement or corporate action planned at this time, and no other price-sensitive information has been disclosed.

The company's condensed interim statement of profit or loss (unaudited) for the six months ended June 30, 2023, shows a net revenue from contracts with customers amounting to Rs. 9,837,736,143. However, it reported a loss of Rs. 147,311,829 after taxation for the same period. The earnings per share stood at (Rs. 0.07) for the half-year, indicating a challenging financial performance.

Shareholders will closely observe the company's future financial reports and decisions as Fauji Foods Limited navigates through its financial challenges and works towards profitability.