First UDL Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on May 14, 2020.

The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2020 which portrayed a loss of Rs. 7,083 with loss per share 0.22 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/147821.pdf

First UDL Modaraba was formed in 1991 under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the Rules framed there under. It is managed by UDL Modaraba Management Private Limited, a company incorporated in Pakistan. It is a perpetual, multipurpose and multidimensional Modaraba and is engaged in providing finance on Murabaha and Musharaka arrangements, Ijarah, commodity trading and trading in listed and non-interest bearing securities. TheModaraba is listed on Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. The registered office is situated at Karachi.

The symbol "FUDLM" is being used by the stock exchange for the shares of First UDL Modaraba.

© Pakistan Press International, source Asianet-Pakistan