Karachi, Landmark Spinning Industries Limited 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 loss of Rs. 828,558 with loss per share 0.07 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Landmark Spinning Industries Limited was incorporated in Pakistan, as a private Limited Company on October 21. 1991 and was converted into a public limited company on April 30, 1992 under the Companies Ordinance, 1984 and its share are listed in Stock Exchanges in Pakistan. The registered office of the Company is located at 1st floor, cotton Exchange Building, I.I. Chundigar Road, Karachi, Pakistan; while its manufacturing facilities are located at Winder Baluchistan, Pakistan. The Principal activity of the Company is Manufacturing and sale of Yarn.
The company commenced its commercial operation, from 2001 after reactivation of plant which remained idle for the seven years. However, the company again suspended its production on November 29, 2002 to forestall the recurring losses on account of electricity breakdowns and frequent Load shedding stop gap arrangement was made to suspend operations for the time being until the market trends becomes conducive for positive results.
The symbol “LMSM” is being used by the stock exchanges for the Landmark Spinning Industries Limited