Karachi, First Paramount Modarabainformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi 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 profit of Rs. 1,733,828 with earnings per share 0.13 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 February 16, 2018 to February 23, 2018 (both days inclusive).
First Paramount Modaraba is a multi-purpose, perpetual and multi-dimensional Modaraba floated under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the rules framed there under. It is managed by Paramount Investments Limited, a company incorporated in Pakistan. Modaraba’s principal activities includes deployment of funds on murabaha and musharika arrangements and its In-house ventures are Generator rental and sale project under the name “Advance Trading Corporation”, Weaving business under the name of “FPM Weaving” and Electrical maintenance and troubleshooting services’ business under the name of “FPM Solutions”. The stocks of the company are quoted on the Karachi and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The symbol “FPRM” is being used by the stock exchange for the shares of First Paramount Modaraba.