Al-Abbas Sugar Mills Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on January 28, 2020 at Karachi.

The agenda of the meeting will be confirming the minutes of 28th Annual General Meeting of the shareholders of the Company held on January 26, 2019, to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended September 30, 2019 together with the Directors and Auditors Reports thereon, to declare and approve the cash dividend for the year ended September 30, 2019 on the ordinary shares of the Company. The Directors have recommended a final cash dividend at 300% i.e. Rs. 30.00 per share. This is in addition to the interim dividend 200% i.e. Rs. 20.00 per share already paid. The total dividend for 2018-2019 will thus amount to Rs. 868,115 million i.e. Rs. 50.00 per share, to appoint auditors for the ensuing year and fix their remuneration and to transact any other business with the permission of the chair.

Further, the closed period of the company is from January 21, 2020 to January 28, 2020 (both days inclusive).

The announcement is available at:

https://dps.psx.com.pk/download/document/141145.pdf

Al-Abbas Sugar Mills Limited is a company incorporated in Pakistan on May 2, 1991 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activities of the company is manufacturing and sale of sugar, processing and sale of industrial ethanol, manufacturing and sale of Calcium Carbide and Ferro alloys, generation and sales of electricity and providing bulk storage facility. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi.

The manufacturing facilities of the company are located at Mirpurkhas, Thatta and Karachi. The company has also entered into agreement of supply of Carbon Dioxide gas at its Ethanol division.

The symbol "AABS" is being used by the stock exchanges for the shares of Al-Abbas Sugar Mills Limited.

© Pakistan Press International, source Asianet-Pakistan