Karachi, In a recent meeting held on September 12, 2023, the Board of Directors of Saudi Pak Leasing Company Limited made several significant recommendations regarding financial results for the year ending June 30, 2023. Shareholders and investors are closely watching these developments, which include cash dividends, bonus shares, and right shares.
Cash Dividend: The board recommended a final cash dividend for the fiscal year ending June 30, 2023, at Rs. 0 per share, which is equivalent to 0%. This comes in addition to any interim dividends already paid at Rs. 0 per share, also totaling 0%.
Bonus Shares: The Board of Directors proposed issuing bonus shares in the ratio of 0 share(s) for every 0 share(s) held, constituting 0%. This issuance will supplement the interim bonus shares already distributed at a rate of 0%.
Right Shares: It was recommended that the company issue 0% right shares at par, at a discount, or at a premium of Rs. 0 per share. These shares will be distributed in the proportion of 0 share(s) for every 0 share(s) held. It is essential to note that the entitlement of right shares will or will not be applicable to bonus shares, depending on simultaneous declarations.
The annual general meeting of Saudi Pak Leasing Company Limited is scheduled for October 12, 2023, at 03:00 in Karachi. Shareholders whose names are listed in the Register of Members on October 12, 2023, will be eligible to receive the recommended entitlements.
To facilitate the above entitlements, the Share Transfer Books of the company will be closed from October 06, 2023, to October 12, 2023, inclusive. Any transfers received at the Karachi Registered Office by the close of business on October 05, 2023, will be considered in time for the entitlement distribution to the transferees.
These recommendations come alongside the release of Saudi Pak Leasing Company Limited’s financial results for the year ending June 30, 2023. The company’s financial statement, as of that date, is as follows:
Statement of Financial Position as of June 30, 2023:
Current Assets:
Cash and Bank Balances: Rs. 1,380,018,929
Short-term Can: Rs. 1,394,909,978
Short-term Investments: Rs. (568,434,853)
Trade Deposits and Short-term Prepayments: Rs. 6,611,548,418
Other Receivables: N/A
Tax: N/A
Current Maturity of Non-current Assets: N/A
Non-current Assets:
Long-term Loans: N/A
Net Investment in Finance Leases: N/A
Investment Properties: Rs. 55,747,840
Property, Plant, and Equipment: Rs. (45,460,128)
Total Assets: Rs. 8,345,830
Liabilities:
Current Liabilities: N/A
Borrowings from Financial Institutions: N/A
Certificates of Investment: Rs. 32,437,564
Accrued Mark-up: Rs. 32,437,564
Provision for Taxation – Net: Rs. (44,245,840)
Accrued Expenses and Other Payables: Rs. (11,808,276)
Current Maturity of Non-current Liabilities: N/A
Unclaimed Dividend: N/A
Non-current Liabilities:
Certificates of Investment: N/A
Long-term Finances: N/A
Security Deposits Against Finance Leases: N/A
Total Liabilities: N/A
Net Assets: Rs. 8,345,830
Share Capital and Reserves:
Authorized Share Capital:
100,000,000 ordinary shares of Rs. 10 each
100,000,000 preference shares of Rs. 10 each
Subscribed and Paid-up Share Capital:
45,160,000 ordinary shares of Rs. 10 each
52,820,850 preference shares of Rs. 10 each
Capital Reserves: N/A
Statutory Reserves: N/A
Surplus on Revaluation of Property, Plant, and Equipment – Net of Tax: N/A
Accumulated Actuarial Loss on Defined Benefit Plan – Net of Tax: N/A
Unrealized Gain on Re-Measurement Carried as at Fair Value Through Other Comprehensive Income: N/A
Revenue Reserves: N/A
Accumulated Losses: N/A
Earnings per Share (EPS):
Basic: Rs. 0.32 (2023) vs. Rs. (1.43) (2022)
Diluted: Rs. 0.15 (2023) vs. Rs. (0.66) (2022)
The details of this financial statement are integral to the company’s performance in the fiscal year ending June 30, 2023. Shareholders and investors are encouraged to review these figures in preparation for the upcoming Annual General Meeting on October 12, 2023.
Please note that there is no other price-sensitive information available at this time, and the company has not declared any other entitlement or corporate action apart from those mentioned in this report.
