Karachi, First AL-Noor Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2020.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 4,136,653 with earnings per share 0.20 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
The First Al-Noor Modaraba is a company incorporated in Pakistan formed under the Modaraba Companies and Modaraba Floatation and Control Ordinance, 1980 and the rules framed thereunder and is managed by Al-Noor Modaraba Management Private Limited. The Modaraba is a multipurpose perpetual modaraba and is primarily engaged in ijarah financing, musharikah, murabaha, musawamah, modaraba, equity investment, Ijarah and trading activities. The registered office of the company is located in Karachi. The Modaraba was floated on October 19, 1992 and commenced its business on November 02, 1992. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.
The symbol “FANM” is being used by the stock exchanges for the shares of First Al-Noor Modaraba.