Kohinoor Textile reclassifies Rs16.775bn to capital reserve

MG News | June 13, 2024 at 03:51 PM GMT+05:00

0:00

June 13, 2024 (MLN): The Board of Directors of Kohinoor Textile Mills Limited (KTML) has decided to re-classify a sum of Rs16.775 Billion from the revenue reserve to separate capital reserve (un-distributable by way of dividend) to reflect the nature of these reserves more accurately.

KTML informed market participants of this development through a notice issued to the Pakistan Stock Exchange (PSX).

Over the years, the company has continued with its expansion strategy and has made significant investments that have enhanced shareholder enterprise value.

Accordingly, the Board noted that because of these reasons, the general / revenue reserve of the company has been utilized and is not entirely available for distribution as a dividend.

Current Classification	Re-classification of Capital Reserve (Not available for distribution by way of dividend)	Amount (Rupees in Thousand)
General Reserve and unappropriated profits	Capital Reserve against capacity expansion	15,000,000
General Reserve and unappropriated profits	Capital Reserve for Buy-Back of Shares	1,775,000
Total		16,775,000

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	184,129.58 798.69M	-1.97% -3702.50
ALLSHR	110,763.73 1,266.28M	-1.85% -2087.96
KSE30	56,278.51 173.32M	-2.19% -1261.46
KMI30	259,907.89 102.57M	-2.03% -5380.16
KMIALLSHR	71,198.64 822.49M	-1.72% -1247.03
BKTi	53,693.69 102.25M	-2.59% -1425.61
OGTi	37,589.24 28.20M	-2.72% -1052.27

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	70,580.00	0.00 0.00	320.00 0.46%
BRENT CRUDE	68.10	68.83 66.56	0.55 0.81%
RICHARDS BAY COAL MONTHLY	96.00	96.00 96.00	1.50 1.59%
ROTTERDAM COAL MONTHLY	102.75	103.25 101.30	2.25 2.24%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	63.50	0.00 0.00	-0.05 -0.08%
SUGAR #11 WORLD	14.14	14.30 14.07	-0.13 -0.91%