Dewan Automotive Engineering Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 25, 2020.

The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a loss of Rs. 29,142 with loss per share 6.12 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/143419.pdf

Dewan Automotive Engineering Limited is a company incorporated in Pakistan on May 6, 1982. The commercial operations of the company commenced in August, 1983. It is a public Limited company the foundations of which are laid under the Companies Ordinance, 1984. The principal business of the company is assembly-cum progressive manufacture and sale of tractors, light commercial vehicles and motorcycles and trading/manufacturing of parts and implements related. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Karachi. The factory of the company is located in Hub, Balochistan.

The symbol "DWAE" is being used by the stock exchanges for the shares of Dewan Automotive Engineering Limited.

© Pakistan Press International, source Asianet-Pakistan