Karachi, Good Luck Industries Limited, a leading industrial company, has disclosed its financial decisions following a board meeting held on September 15, 2023, in Karachi.
Key Recommendations
The company's Board of Directors has made several important recommendations for the benefit of its shareholders:
1. Cash Dividend:
Good Luck Industries will issue a final Cash Dividend for the fiscal year ending on June 30, 2023, amounting to Rs. 3 per share, which equals 30% of the share's value.
This final dividend is in addition to the Interim Dividend(s) already paid at Rs. 0 per share, constituting 0% of the share's value.
2. Bonus Shares:
The Board has recommended the issuance of Bonus Shares. However, the proportion of Bonus Shares, as well as the number of shares held, remains at NIL%, which means no Bonus Shares will be issued at this time. This recommendation complements the Interim Bonus Shares already issued at NIL%.
3. Right Shares:
A recommendation to issue NIL% Right Shares has been put forth by the Board. These Right Shares may be offered at par value, a discount, or a premium of Rs. NIL per share.
The entitlement of Right Shares being declared simultaneously will be clarified in due course, and it may or may not be applicable to Bonus Shares as declared earlier.
4. Other Entitlements or Corporate Actions:
The company did not recommend any other entitlements or corporate actions in this meeting.
5. Price-Sensitive Information:
No additional price-sensitive information was disclosed during the meeting.
The company also presented its financial results for the year ended June 30, 2023, which included a Profit & Loss Account with appropriations, earnings per share, and comparative figures from the immediately preceding corresponding period. It should be noted that the accounts did not contain any qualifications or observations from the auditors.
Annual General Meeting (AGM):
The Annual General Meeting of Good Luck Industries Limited is scheduled to take place on October 14, 2023, in Karachi.
Book Closure Details:
Shareholders who are eligible for the recommended Cash Dividend are those whose names appear in the Register of Members on October 6, 2023. To facilitate the distribution of entitlements, the Share Transfer Books of the Company will be closed from October 7, 2023, to October 14, 2023, inclusive.
The company is committed to transparency and timely financial operations, ensuring that all investors receive their due entitlements promptly. The Annual Report of Good Luck Industries Limited will be transmitted through PUCARS at least 21 days before the Annual General Meeting and will also be available on the company's website for shareholders' reference.