Karachi, Dewan Farooque Motors Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 29, 2019.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2019 which portrayed a loss of Rs. 33,217 with loss per share 0.24 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Deewan Farooque Motors Limited is a company incorporated in Pakistan on December 28, 1998 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The company has entered into separate technical License/ collaboration agreements with Hyundai Motor Company, Korea and KIA Motors Corporation, Korea. The principal activity of the company is the assembly, progressive manufacturing and sales of Hyundai and KIA vehicles in Pakistan. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi and the manufacturing facility of the company is located in Sindh.
The company commenced commercial production through the interim facility from January 1, 2000. The company has suspended its operations since November, 2010.
The symbol “DFML” is being used by the stock exchanges for the shares of Deewan Farooque Motors Limited.