Karachi, Karam Ceramic Limited informed Pakistan Stock Exchange that the ordinary shares representing approximately 72.95% of the total issued ordinary share capital of the Target Company at a price of PKR 20.00 per ordinary share (the “Acquisition”).
Karam Ceramics Limited was established in Karachi as a Public Limited Company on April 08, 1979 by the name of “International Standard Ceramics Limited” and obtained the certificate for commencement of business on May 24, 1979. The Company changed its name to “Karam Ceramics Limited” (KCL) on November 27, 1982.
The principal objective of Karam Ceramics is to carry on any or all of the business of Manufacturers, Agents, Producers, Importers, Exporters, Wholesalers, Retailers, Contractors and Dealers in Ceramics, Tiles etc. In pursuance of this objective KCL established a modern ceramics ware manufacturing plant in Karachi.
The total number of shares of the Company are quoted as 14,549,060. The Earning per shares of the Company is (3.01) in 2020 which was 1.98 in 2019. The profit after Taxation of the Company is (43,774,000) in 2020 which was 28,878,000 in 2019.
