Karachi, The Searle Company Limited informed Pakistan Stock Exchange about the recommendations made by the Board of Directors in the meeting held at Karachi on April 18, 2019.
The agenda of the meeting was discussion of unconsolidated and consolidated profit and loss account for quarter ended March 31, 2019 which portrayed a profit of Rs. 625,645 and Rs. 477,274 with earnings per share 2.95 and 2.23 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
“The Searle Company Limited formerly Searle Pakistan Limited is a company incorporated in Pakistan as a private limited company in October 1965. In November 1993, the Company was converted to a public limited company. The company is principally engaged in the manufacture of pharmaceutical products and a low calorie sweetener. It is also engaged in sale of food and consumer items and manufacture of pharmaceutical items for other companies. The stocks of the company are quoted on the Karachi and Islamabad stock exchanges of Pakistan. The registered office of the Company is located at Karachi.
The company is a subsidiary of International Brands Private Limited. It is the holding company of IBL HealthCare Limited due to significant representation in Board of Directors and 50% shareholding. The wholly owned subsidiaries of the company are namely Searle Laboratories Private Limited, Searle Pharmaceuticals Private Limited and Searle Biosciences Private Limited. The company is engaged in production of Aldactone, Lomotil, Diodoquin, Ovulen, Neomycin Sulphate, Probanthine, Hydryllin etc.
The symbol “SEARL” is being used by the stock exchanges for the shares of The Searle Company Limited.”