JS Value Fund Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of JS Value Fund Limited (JSVFL) in their meeting held on Wednesday, August 24, 2011 at Karachi approved the following:

Cash dividend:

A final cash dividend for the year ended June 30, 2011 at Re. 0.20 per share i.e. 2%. This is in addition to interim dividend already paid at Re.0.50 per share i.e. 5%.

The Share Transfer Book of the Company will be closed from Thursday, September 29, 2011 to Thursday, October 06, 2011 (both days inclusive). Transfers received at the Registrars Office, Technology Trade (Pvt.) Limited, Dagia House, 241-C, Block-2. P.E.C.H.S. Karachi at the close of business on or before Wednesday, September 28, 2011 will be treated in time for the purpose of above entitlement to the transferees and attendance the Annual General meeting to be held on Thursday, October 06, 2011.

The financial results of JS Value Fund Limited are as follows:

 

Year Ended

June 30,

Juno 30,

2011

2010

Income

Rupees

Investment Income
Net gain on sale of marketable securities 58,293,355115,166,792
Net unrealised gain / (loss) on investment at fair value through profit or loss -
held- for- trading172,932,138(241,708,455)
 ———–———–
Net profit / (loss) on investments in marketable securities231,225,493(126,541,663)
Dividend income64,609,15846,188,060
Mark-up / return on:
- bank balances and term deposits12,555,54117,073,100
- term finance certificates -5,631,902
Amortization of discount on investments-2,882,699
———–———–
 12,555,54125,587,701
———–———–
308,390,192 (54,765,902)
Expenses
Remuneration to the management company 23,312,20824,801,034
Remuneration to the custodian2,143,330 2,217,819
Annual fee to Securities and Exchange Commission of Pakistan1,107,3291,178,049
Bank Charges 5,171 16,790
Securities transaction cost 1,830,8313,311,711
Auditors’ remuneration435,000445,850
Directors meeting fee75,00050,000
Share registrar and clearing charges 916,8721,077,076
Professional tax and charges100,000 100,000
Provision on available-for-sale investments – debt security15,975,36026,430,607
Other operating expenses1,907,4581,457,645
  ———–———–
 47,808,55961,086,581
 ———–———–
Not profit/ (loss) for the year260,581,633(115,852,483)
———–———–
Earnings / (loss) per share – Basic and Diluted2.20 (0.98)

 

For more information, contact:
Suleman Lalani
Chief Financial Officer and Company Secretary
JS Value Fund Limited
7th Floor, The Forum,
G-20 Khayaban-e-Jami,
Clifton, Block 9,
Karachi- 75600, Pakistan.
Tel: (+92-21) 111-222-626
Fax: (+92-21) 35361727