Dawood Capital Management Limited’s financial result of for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of Dawood Capital Management Limited (DCM) in their meeting held on Wednesday September 7, 2011 at 11:30 a.m. at 5-B, 5th Floor, Lakson Square Building # 1, Sarwar Shaheed Road, Karachi, recommended the following:

(i) Cash Dividend                               NIL

And/or

(ii) Bonus Issue                                NIL

And/or

(iii) Right Shares                              NIL

And/or

(iv) Any other Entitlement/ Corporate Action    NIL

And/or

(v) Any other price – Sensitive Information     NIL

The financial result is enclosed.

The Annual General Meeting of Dawood Capital Management Limited will be held on Friday October 07, 2011 at 10:00 a.m. at 5-B, 5th Floor, Lakson Square Building # 1, Sarwar Shaheed Road, Karachi.

The Transfer Books of the Company will be closed from October 01, 2011 to October 07, 2011 (both days inclusive) the Transfer received at the Registrar Office, FD Registrar Service (SMC-Pvt.) Ltd at Office # 1108, 11th Floor, Trade Centre, I.I. Chundrigar Road, Karachi at the close of business on September 30, 2011will be treated in time for the attendance and vote at this meeting.

Dawood Capital Management Limited Profit and Loss Account For the Year Ended June 30, 2011

 

Note

2011

2010

Rupees

Rupees

Income
Investment income 19 42,698 11,886,381
Management fee 20 19,718,450 24,598,608
 ———– ———–
 19,761,148 36,484,989
Impairment against investments 21 (8,023,425) (4,273,757)
 ———– ———–
Expenses 11,737,723 32,211,232
Administrative and operating expenses  22   27,171,903 31,374,184
Financial charges 6,981  151,686
27,178,884 31,525,870
———– ———–
 (15,441,161)  685,362
Other operating income 24  2,218,628 4,898,965
———– ———–
 (13,222,533) 5,584,327
Share of associates’ profit/ (Loss) 25 13,075,947 (5,668,228)
———– ———–
Loss Before Taxation (146,586) (83,901)
Taxation
– Current 218,999 127,520
Deferred  – (55,000)
 ———–  ———–
26 218,999 72,520
 ———– ———–
Net Loss for the year  (365,585)  (156,421)
 ———–  ———–
Loss per Share – Basic and diluted 27 (0.02)  (0.01)

 

 

The annexed notes from 1 to 30 form an integral part of these financial statements.

Dawood Capital Management Limited

Balance Sheet As at June 30, 2011

 

Note 2011 2010
Rupees Rupees
Assets
Non-current assets
Operating fixed assets  8 2,363,148 2,550,187
Long term investments  9 143,066,066 137,369,985
Long term receivables from related parties 10 1,115,000 1,615,000
Long term deposits 34,200 31,000
 ———–  ———–
146,578,414 141,566,172
Current assets
Investments- available for sale 11 4,805,337 5,724,808
Loans and advance 12 794,498 1,499,458
Prepayments, interest accrued and other receivables 13 678,108 1,220,802
Remuneration due from funds under management 14 2,327,114 1,331,254
Advance tax – net of provision 6,069,919  6,364,582
Bank balances 15  405,356 4,023,077
 ———– ———–
15,080,332 20,163,981
 ———–  ———–
161,658,746 161,730,153
 ———–  ———–
Equity and Liabilities
Share capital and reserves
Authorised capital
20,000,000 Ordinary shares of Rs. 10/- each 200,000,000 200,000,000
———–  ———–
Issued, subscribed and paid –up capital 16 149,737,500 149,737,500
Unrealised Deficit on revaluation of available for sale
Investments to fair value – net 11  (7,565)
General reserves 33,630,264  33,630,264
Unappropriated loss  (34,315,164)  (33,949,579)
———– ———–
149,052,600 149,410,620
Current liabilities
Accrued and other liabilities 17 12,606,146 12,319,533
  ———– ———–
 161,658,746  161,730,153
 ———–  ———–
Contingencies 18

 

The annexed notes from 1 to 32 form an integral part of these financial statements.

 

For more information, contact:
Dawood Capital Management Limited
5B Lakson Square Building # 1, Sarwar Shaheed Road,
Karachi – 74200,
Pakistan.
UAN: 111-DAWOOD (111-329-663)
Tel: (92-21) 3562-1001-06
Fax: (92-21) 3562-1010
Email: dcm@edawood.com
Web: www.edawood.com

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