Karachi, First Equity Modarabainformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2018.
The agenda of the meeting was discussion of consolidated profit and loss account for quarter ended December 31, 2017 which portrayed a loss of Rs. 6,654,565 with loss per share 0.13 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
First Equity Modaraba (FEM) is managed by Premier Financial Services (Private) Limited, derives its board from the Crescent Group. First Equity Modaraba (FEM) is the first in the Modarabas operating in Pakistan who acquired the membership of all the three stock exchanges of Pakistan to undertake the brokerage business.
On August 21, 2002, the Securities and Exchange Commision of Pakistan (SECP) has granted the license to FEM to carry out stock exchange transactions. Thereafter, from September 2002 FEM commenced full-fledged brokerage operation from the Karachi Stock Exchange.
The symbol “FEM” is being used by the stock exchange for the shares of First Equity Modaraba.