Pakistan Petroleum Limited’s financial results for the year ended 30 June, 2011 declaration of final dividend and bonus shares

Pakistan Petroleum Limited’s financial results for the year ended 30 June, 2011 declaration of final dividend and bonus shares

Karachi: We enclose herewith computation of free reserves as of 30 June, 2011 alongwith the review report of the auditors thereon dated 9 August, 2011 for the proposed Bonus issue to the shareholders in proportion of 1 ordinary share for every 10 ordinary shares held i.e. 10%.

The above is submitted under Rule 6 (read with Rule 5) of Companies (Issue of Capital) Rules 1996 for information of the Stock Exchanges.

Computation of Free Reserves in Terms of Rull 6 (Read with Rules 5) of the Companies (Issue of Capital) Rules, 1996 as of June 30, 2011

Proposed bonus issue rate10%   (1 shares for each 10 share hold)

Proposed cash dividend rate 20%    (Rs. 2 per shares)

 

Rupees in thousand

Capital
Paid-up Ordinary share capital 11,949,792
Add: Proposed issue of bonus shares 1,194,979
———-
Ordinary shares capital as will be enhanced by bonus shares 13,144,771
———-
Reserves
Unappropriated profit Less: 48,380,020
Proposed cash dividend 2,389,959
Proposed issue of bonus shares 1,194,979
Proposed transfer to asset acquisition reserve 5,000,000
Proposed transfer to insurance reserve 5,000,000
———-
13,584,938
———-
34,795,082
Less: Contingent liabilities 1,571,166
———-
Free reserves after issue of bonus shares 33,223,916

 

 

Note: General and contingency reserve, insurance reserve and asset acquisition reserve have not been considered for the purpose of calculation of free reserves.

Free reserves after issue of bonus shares is hight than 25% of the increased capital.

For more information, contact:
Pakistan Petroleum Limited
PIDC House, Dr. Ziauddin Ahmed Road,
Karachi – 75530,
Pakistan.
UAN: (021) 111-568-568
Tel: (021) 35651480-98
Fax: 92-21 35680005

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