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Maple Leaf Cement Factory Limited’s financial results for the year ended June 30, 2011

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by September 27, 2011 Financial Results

Karachi: We have to inform you that the Board of Directors of our Company in their Meeting held on Tuesday, September 27, 2011 at 11:00 AM at 42-Lawrence Road, Lahore, recommended the following:-

i) Cash Dividend                                        Nil

ii) Bonus Shares                                        Nil

iii) Right Shares                                       Nil

iv) Any Other Entitlement / Corporate Action

In respect of conversion of preference shares into ordinary shares and its book closure is being intimated through a separate letter.

v) Any Other Price-Sensitive Information                Nil

The audited financial results of the Company are as follows:

 

Year Ended

30.06.2011 30.06.2010

(Rs. 000)

Sales – net 13,073,218 13,630,511
Cost of sales (10,898,059) (10,691,883)
———- ———-
Gross profit 2,175,159 2,938,628
Distribution cost  (1,646,632) (3,152,889)
Administrative expenses (230,788) (194,161)
Other operating expenses (162,394) (158,641)
 ———- ———-
(2,039,814) (3,505,691)
———- ———-
135,345 (567,063)
Other operating income 450,153 57,031
———- ———-
Profit / (loss) from operations 585,498 (510,032)
Finance cost  (2,166,409) (2,059,476)
———- ———-
Loss before taxation  (1,580,911) (2,559,508)
Taxation (188,125) (14,447)
 ———-  ———-
Loss after taxation (1,769,036) (2,583,955)
———- ———-
Un-appropriated loss brought forward (4,310,333) (1,673,584)
Surplus on revaluation of property, plant and equipment realized through incremental depreciation (net of tax) 138,702
Reversal of revaluation surplus on disposal
of fixed assets (net of tax) 11,548
 ———-  ———-
Accumulated Loss  (5,929,119) (4,257,539)
Appropriations:
Transfer from / to capital redemption reserve  5,146
Provision for dividend on preference shares (52,678) (52,794)
Un-appropriated loss (5,976,651) (4,310,333)
Rupees
Loss per share – basic and diluted  (3.72)  (7.08)

 

Maple Leaf Cement Factory Limited

Animal General Meeting (AGM) of the Company will be held on Monday, October 31, 2011 at 11:30 AM at Registered Office of the Company, 42-Lawrence Road, Lahore.

The Share Transfer Books of the Company will be closed from 24-10-2011 to 31-10-2011 (both days inclusive). Transfers received at the Shave Registrar, Vision Consulting Limited, 3-C, LDA Fiats, Lawrence Road, Lahore, at the close of business on October 23, 2011 will be considered in time for attending of the meeting.

Notice of Book Closure towards Offer for Conversion of Preference Shares into Ordinary Shares

Reference is made to the decision of the Board of Directors in their meeting held on Tuesday, September 27, 2011 at 11:00 AM towards offer for conversion of existing 53,632,805 preference shares trite ordinary shares at determined ratio 1.2215 ordinary shares for every one preference share held, in accordance with the terms and conditions of the issue of preference shares to those preference shareholders whose names will appear in the members’ register as on October 18, 2011.

Further, please be informed that Share Transfer Books of the Company in respect of Preference Shares will remain closed from October 19, 2011 to October 25, 2011 (both days inclusive) in order to determine the entitlement of preference shareholders for offer of conversion of Preference Shares into Ordinary Shares of the Company. Physical transfers / CDS Transaction IDs received in order at Share Registrar M/s. Vision Consulting Limited, 3-C, LDA Flats, Lawrence Road, Lahore upto the close of business on October 18, 2011 will be considered in time.

 

For more information, contact:
Muhammad Ashraf
Company Secretary
Maple Leaf Cement Factory Limited
42- Lawrence Road,
Lahore (Pakistan)
Tel: 042-36278904-5
Fax: 92-42-3636184
Email: mlcfl@kmlg.com

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