Financial results of Cyan Limited for the period ended September 30, 2014
Karachi, Cyan Limited informed Karachi Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 27, 2014.
The agenda of the meeting was discussion of un-audited interim profit and loss account for the nine month period ended September 30, 2014 which portrayed a profit of Rs. 629,285,000 and earnings per share 10.73 basic and diluted.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Cyan Limited is a public limited company incorporated in Pakistan on April 23, 1960. The foundations of the company are laid under the Companies Act, 1913 now the Companies Ordinance, 1984. The company is a subsidiary of the Dawood Group Limited. The company is engaged mainly in providing funding to Cyan Capital for its private equity investments. The registered office of the company is located in Karachi. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.
The company is in the phase of restructuring the operations so that new business platforms and dimensions can be explored. On November 30, 2011 the insurance license of the company was also revoked by the Securities and Exchange Commission of Pakistan. The associate companies of Cyan Limited Include Dawood Hercules Corporation Limited, Dawood Lawrencepur Limited, Dawood Corporation Private Limited, Elixir Securities Pakistan Private Limited, Sach International Private Limited, Dawood Industries Private Limited, Patek Private Limited, Pebbles Private Limited, Inbox Technologies Private Limited, Engro Corporation Limited, ABL Assets Management Company Limited, UBL Funds Manager.
The symbol “CYAN” is being used by the stock exchange for the shares of Cyan Limited.
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