Karachi, First Elite Capital Modarabainformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on February 23, 2018.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2017 which portrayed a loss of Rs. 2,124,853 with loss per share 0.19 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Crescent Modaraba Management Company Limited was incorporated under the Companies Ordinance 1984 on May 30, 1989 vide Registration No. L-01630 as a Public Limited Company. The Company floated First Elite Capital Modaraba in 1991 with an authorized Capital of Rs. 200.00 (M). The Modaraba offered shares worth Rs. 100.00 (M) to public which were oversubscribed. It is a perpetual, multipurpose and multidimensional Modaraba. Presently Modaraba has paid up Capital of Rs. 113.40 (M).
The symbol “FECM” is being used by the stock exchange for the First Elite Capital Modaraba.