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 income1942,69811,886,381
Management fee2019,718,45024,598,608
 ———–———–
 19,761,14836,484,989
Impairment against investments21(8,023,425)(4,273,757)
 ———–———–
Expenses11,737,72332,211,232
Administrative and operating expenses 22  27,171,90331,374,184
Financial charges6,981 151,686
27,178,88431,525,870
———–———–
 (15,441,161) 685,362
Other operating income24 2,218,6284,898,965
———–———–
 (13,222,533)5,584,327
Share of associates’ profit/ (Loss)2513,075,947(5,668,228)
———–———–
Loss Before Taxation(146,586)(83,901)
Taxation
- Current218,999127,520
Deferred -(55,000)
 ———– ———–
26218,99972,520
 ———–———–
Net Loss for the year (365,585) (156,421)
 ———– ———–
Loss per Share – Basic and diluted27(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

 

Note20112010
RupeesRupees
Assets
Non-current assets
Operating fixed assets 82,363,1482,550,187
Long term investments 9143,066,066137,369,985
Long term receivables from related parties101,115,0001,615,000
Long term deposits34,20031,000
 ———– ———–
146,578,414141,566,172
Current assets
Investments- available for sale114,805,3375,724,808
Loans and advance12794,4981,499,458
Prepayments, interest accrued and other receivables13678,1081,220,802
Remuneration due from funds under management142,327,1141,331,254
Advance tax – net of provision6,069,919 6,364,582
Bank balances15 405,3564,023,077
 ———–———–
15,080,33220,163,981
 ———– ———–
161,658,746161,730,153
 ———– ———–
Equity and Liabilities
Share capital and reserves
Authorised capital
20,000,000 Ordinary shares of Rs. 10/- each200,000,000200,000,000
———– ———–
Issued, subscribed and paid –up capital16149,737,500149,737,500
Unrealised Deficit on revaluation of available for sale
Investments to fair value – net11- (7,565)
General reserves33,630,264 33,630,264
Unappropriated loss (34,315,164) (33,949,579)
———–———–
149,052,600149,410,620
Current liabilities
Accrued and other liabilities1712,606,14612,319,533
  ———–———–
 161,658,746 161,730,153
 ———– ———–
Contingencies18

 

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