Karachi, Cyan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 19, 2018.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2017 which portrayed a loss of Rs. 537,901 with loss per share 9.17 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from March23, 2018 to March 29, 2018 (both days inclusive).
Cyan Limited is a public limited company incorporated in Pakistan on April 23, 1960. The foundations of the company are laid under the Companies Act, 1913 now the Companies Ordinance, 1984. The company is a subsidiary of the Dawood Group Limited. The company is engaged mainly in providing funding to Cyan Capital for its private equity investments. The registered office of the company is located in Karachi. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.
The company is in the phase of restructuring the operations so that new business platforms and dimensions can be explored. On November 30, 2011 the insurance license of the company was also revoked by the Securities and Exchange Commission of Pakistan. The associate companies of Cyan Limited Include Dawood Hercules Corporation Limited, DawoodLawrencepur Limited, Dawood Corporation Private Limited, Elixir Securities Pakistan Private Limited, Sach International Private Limited, Dawood Industries Private Limited, Patek Private Limited, Pebbles Private Limited, Inbox Technologies Private Limited, Engro Corporation Limited, ABL Assets Management Company Limited, UBL Funds Manager.
The symbol “CYAN” is being used by the stock exchange for the shares of Cyan Limited.