First National Equities : Miscellaneous Information

VISION

"Connecting people, ideas and capital,

we will be our client's first choice for achieving

their financial aspirations".

MISSION

"We put interest of our stakeholders above our own; and measure our success by how much we

help them in achieving theirs".

PHILOSOPHY

Business @ Speed of Thought

COMPANY INTRODUCTION

• FNEL was incorporated in February, 1995.
• FNEL was listed on Karachi Stock Exchange as Public Limited Company in 2004.
• FNEL is engaged in the business of Brokerage and Portfolio Management.
• FNEL was awarded the Top Companies Award by Karachi Stock Exchange Limited in 2006.

FINANCIAL DETAILS

• The Company's after-tax loss during the current year was Rs. 87.949 million as at June 30, 2023, the Company's accumulated gain was Rs. 27.047 million (2022: Rs. 114.541 million gain).
• Company operating revenue decreased significantly during the year as compared to last year which is on the account of the heightened economic risks arising from rising inflation, slowing growth, and weakening external account. PKR devaluation, steep surge in fuel and utility rates coupled with record high commodity prices are likely to result in significant inflationary pressure, which means tight monetary setting for an extended period of time. The Company is trying its best to yield better volumes by providing improved quality of services through extensive research, corporate access and advisory services. We are continuously working on expanding our online and retail client base in order to increase the market participation of investors and avail benefits from lucrative market opportunities.

Strategic/Operational Development

The core objective behind any strategic development of the company is the expansion of the company's operations and further developments are always aimed for the

betterment of worthy shareholders. Considering this fact, the company decided to invest in the Real Estate sector by investing in a wholly owned subsidiary, titled as, FNE Developments (Pvt.) Ltd.. Furthermore, FNE Developments (Pvt.) Ltd. is exploring the various options in collaboration with different stakeholders in the Real Estate Sector. Any procession in this regard will be announced accordingly.

Sale of Investment in Undertaking

By evaluating the market situation and other considerable facts for the utmost benefit of our valuable shareholders, the company has decided the sale of its investment made earlier by company in Kingbhai Digisol (Pvt.) Limited, subject to the approval of shareholders in general meeting.