Karachi, Pakistan Gum and Chemical Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on March 19, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2018 which portrayed a profit of Rs. 18,750 with earnings per share 4.41 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 April 18, 2019 to April 25, 2019 (both days inclusive).
Pakistan Gum and Chemical Limited was incorporated in Pakistan as
a public limited company in 1982 under the Companies Act, 1913 later the
Companies Ordinance, 1984. The main business activity is the production and
sale of guar gum and its allied products. The registered office of the company
is located in Karachi. The stocks of the company are quoted on the Karachi and
Lahore Stock Exchange of Pakistan.
The products of the company include guar splits, guar gum and guar meal. The by-product, guar meal is used as a nutritional supplement for animal, poultry and cattle feed. The production process of the company is ISO 22000:2005 certified. The company relies heavily on exports with customers in Canada, China, Dubai, Germany, Hong Kong, Italy, Holland, Japan, Korea, Malaysia, Philippines, Poland, Qatar, Singapore, Spain, Switzerland, Saudi Arabia, Taiwan, Thailand, Turkey and the USA.
The symbol “PGCL” is being used by the stock exchange for the shares of Pakistan Gum and Chemical Limited.