Al-Abid Silk Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on May 28, 2020.

The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2020 which portrayed a profit of Rs. 2,574,123,879 with earnings per share 191.96 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

The announcement is available at:

https://dps.psx.com.pk/download/document/148249.pdf

AI-Abid Silk Mills Limited was incorporated as a private limited company in Pakistan in the year 1968. Later the company was converted into a public limited company on December 24, 1987. The foundations of the company are laid under the Companies Ordinance, 1984. The company is principally engaged in manufacturing and processing of various kinds of fabrics and export of printed and dyed cloth, bed sets and other textile made-ups. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Karachi. The manufacturing facilities of the Company are located at Karachi.

The symbol "AASM" is being used by the stock exchanges for the shares of AI-Abid Silk Mills Limited.

© Pakistan Press International, source Asianet-Pakistan