Karachi, Al-Abid Silk Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on November 27, 2019.
The agenda of the meeting was discussion of profit and loss account for Quarter ended September 30, 2019 which portrayed a loss of Rs. 29,006,411 with loss per share 2.16 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
AI-Abid Silk Mills Limited was incorporated as a private limited company in Pakistan in the year 1968. Later the company was converted into a public limited company on December 24, 1987. The foundations of the company are laid under the Companies Ordinance, 1984. The company is principally engaged in manufacturing and processing of various kinds of fabrics and export of printed and dyed cloth, bed sets and other textile made-ups. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Karachi. The manufacturing facilities of the Company are located at Karachi.
The symbol “AASM” is being used by the stock exchanges for the shares of AI-Abid Silk Mills Limited.