Pakistan Company News – Material Information of First Paramount Modaraba

Material Information of First Paramount Modaraba

Karachi, First Paramount Modarabainformed Pakistan Stock Exchange that the Board of Directors of the Company in the Meeting held dated July 09, 2018 has granted approval for preliminary six months from the date of approval using the name of “Geo Dynamics Int’l” GDI as a business division of Modaraba. GDI will arrange to supply chemicals and services to petroleum industry companies of upstream and midstream segments.

First Paramount Modaraba is a multi-purpose, perpetual and multi-dimensional Modaraba floated under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the rules framed there under. It is managed by Paramount Investments Limited, a company incorporated in Pakistan. Modaraba’s principal activities includes deployment of funds on murabaha and musharika arrangements and its In-house ventures are Generator rental and sale project under the name “Advance Trading Corporation”, Weaving business under the name of “FPM Weaving” and Electrical maintenance and troubleshooting services’ business under the name of “FPM Solutions”. The stocks of the company are quoted on the Karachi and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.

The symbol “FPRM” is being used by the stock exchange for the shares of First Paramount Modaraba.