Karachi, SME Leasing Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on January 29, 2018.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2017 which portrayed a loss of Rs. 22,510,494 with loss per share 0.70 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, 2018 to April 25, 2018 (both days inclusive).
SME Leasing Limited was incorporated as an unlisted public limited company on July 12, 2005. The company, while a still remains a subsidiary of SME Bank Limited has now become a listed Company on Pakistan Stock Exchange. The core Objective of the Company is to extend Lease and Working Capital financing facilities to small and medium enterprises of the country.
The Company was granted the Certificate for commencement of business on January 28, 2003 and under an arrangement with SME Bank Limited, the assets and liabilities of the leasing division of SME Bank Limited were transfer to the Company on January 31, 2003.
The objective for forming SMEL is to contribute monetarily, as much as possible, towards the economics growth of the country and at the same time bringing about cultural change in the uplift of the SME sector by providing client-specific financing facilities.
The Company primarily concentrates on SME sector with a vision to enhance their assets and technology capabilities. it provides a window to the SMEs with one of the largest branch networks in Pakistan. Currently the company has eight branches operating in the major cities of the country.
The symbol “SLL” is being used by the stock exchanges for the shares of SME Leasing Limited.