Karachi, Imperial Sugar Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on January 04, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended September 30, 2018 which portrayed a loss of Rs. 562,502 with loss per share 5.68 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 January 21, 2019 to January 28, 2019 (both days inclusive).
Imperial Sugar Limited is a public limited company, incorporated on May 9th, 2007 to undertake Sugar and Allied businesses. The company acquired two Sugar plants and one Ethyl Alcohol (Ethanol) Distillery in the year 2007. After completion of these acquisitions and approval of the SECP and KSE, the Company was listed on Karachi Stock Exchange on August 13th, 2008.
In order to recover a huge amount of Carbon Dioxide Gas (CO2) that is produced during the fermentation process of Molasses, a state of the art CO2 Recovery Plant with 48 Metric Tons/Day capacity was bought from Italy, which is currently under erection and installation process. It is worth mentioning that no distillery in Pakistan but one other than ours has the CO2 recovery system installed. Elsewhere in Pakistan, CO2 produced during fermentation process is exhausted in the atmosphere and thus wasted.
The Symbol “IMSL” is being used by the stock exchange for Imperial Sugar Limited.