JS Value Fund Limited’s financial results for the year ended June 30, 2011

JS Value Fund Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of JS Value Fund Limited (JSVFL) in their meeting held on Wednesday, August 24, 2011 at Karachi approved the following:

Cash dividend:

A final cash dividend for the year ended June 30, 2011 at Re. 0.20 per share i.e. 2%. This is in addition to interim dividend already paid at Re.0.50 per share i.e. 5%.

The Share Transfer Book of the Company will be closed from Thursday, September 29, 2011 to Thursday, October 06, 2011 (both days inclusive). Transfers received at the Registrars Office, Technology Trade (Pvt.) Limited, Dagia House, 241-C, Block-2. P.E.C.H.S. Karachi at the close of business on or before Wednesday, September 28, 2011 will be treated in time for the purpose of above entitlement to the transferees and attendance the Annual General meeting to be held on Thursday, October 06, 2011.

The financial results of JS Value Fund Limited are as follows:

 

Year Ended

June 30,

Juno 30,

2011

2010

Income

Rupees

Investment Income
Net gain on sale of marketable securities  58,293,355 115,166,792
Net unrealised gain / (loss) on investment at fair value through profit or loss –
held- for- trading 172,932,138 (241,708,455)
 ———– ———–
Net profit / (loss) on investments in marketable securities 231,225,493 (126,541,663)
Dividend income 64,609,158 46,188,060
Mark-up / return on:
– bank balances and term deposits 12,555,541 17,073,100
– term finance certificates  – 5,631,902
Amortization of discount on investments 2,882,699
———– ———–
 12,555,541 25,587,701
———– ———–
308,390,192  (54,765,902)
Expenses
Remuneration to the management company  23,312,208 24,801,034
Remuneration to the custodian 2,143,330  2,217,819
Annual fee to Securities and Exchange Commission of Pakistan 1,107,329 1,178,049
Bank Charges  5,171  16,790
Securities transaction cost  1,830,831 3,311,711
Auditors’ remuneration 435,000 445,850
Directors meeting fee 75,000 50,000
Share registrar and clearing charges  916,872 1,077,076
Professional tax and charges 100,000  100,000
Provision on available-for-sale investments – debt security 15,975,360 26,430,607
Other operating expenses 1,907,458 1,457,645
  ———– ———–
 47,808,559 61,086,581
 ———– ———–
Not profit/ (loss) for the year 260,581,633 (115,852,483)
———– ———–
Earnings / (loss) per share – Basic and Diluted 2.20  (0.98)

 

For more information, contact:
Suleman Lalani
Chief Financial Officer and Company Secretary
JS Value Fund Limited
7th Floor, The Forum,
G-20 Khayaban-e-Jami,
Clifton, Block 9,
Karachi- 75600, Pakistan.
Tel: (+92-21) 111-222-626
Fax: (+92-21) 35361727

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