Financial results of Jauharabad Sugar Mills Limited for year ended September 30, 2016

Karachi, Jauharabad Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on December 28, 2016. The agenda of the meeting was discussion of profit and loss account for year ended September 30, 2016 which portrayed a profit of Rs. 105,997,346 with earnings per share 9.72 basic and diluted respectively. Further, 1 per share i.e. 10% payment of cash dividend, bonus shares and right shares was agreed. Furthermore, the share transfer books of the company will remain closed from January 24, 2017 to January 31, 2017 (both days inclusive). Jauharabad Sugar Mills Limited (Formerly “Kohinoor Sugar Mills Limited”) is a public limited company, and has an honor of being one of the pioneer sugar mills of Pakistan, established since independence at Jauharabad, District Khushab in the Punjab Province by the Thal Development Authority. The Company has designed crushing capacity of 8000 MT of sugar cane per day. Cane Processing (Pvt) Limited acquired the majority shares from Saigol family under sales purchase agreement dated October 14, 2013.The new management took the control of the Company after the approval of acquisition of majority voting shares and control of the company by the Securities and Exchange Commission of Pakistan. The Company’s name has also been changed to “Jauharabad Sugar Mills Limited” with effect from August 27, 2014. The new management has removed the bottlenecks of the plant and is focused to revitalize the project. The symbol “JSML” is being used by the stock exchanges for the shares Jauharabad Sugar Mills Limited.