Security Investment Bank Limited’s financial results for the year ended 31 December 2011

Karachi: We have to inform you that the Board of Directors of our company in its meeting held at 4:30 P.M. on 21 March 2012 at 6th Floor, Madina City Mall, Abdullah Haroon Road Karachi, recommended the following:

Cash Dividend        Nil

Bonus Shares         Nil

Right Shares         Nil

The financial results of the company are enclosed herewith.

Material information

The Board of directors of Security Investment Bank Limited (SIBL) has resolved to incorporate a subsidiary company by the name of SIBL. Securities (Private) Limited to meet with the SECP’s requirements under Rule 7(2) (n) of the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003. In this respect, the Board has resolved to take necessary approvals from shareholders in the upcoming AGM of the Company and fulfilling other legal and corporate formalities as may be required under the law.

Annual general meeting

The annual general meeting of the Company will be held on Monday, 23 April 2012 at 9 am. at the registered office of the Company situated at flat number 4, 3rd floor, Al-Babar centre, main Markaz, F-8, Islamabad.

Book closure

The share transfer books of the Company will remain closed from 17 April2012 to 23 April 2012 (both days inclusive). Transfer received at the office of the share registrar of the company (i.e. C and K Management Associates (Private) Limited, room number 404, Trade Tower, Abdullah Haroon road, near Hotel Metropolitan, Karachi) at the close of business on 16 April 2012 will be treated in time for determining the entitlement of members to attend the annual general meeting of the Company.

Security Investment Bank Limited

Profit and Loss Accounts

For the Year Ended December 31, 2011

 

2011 2010
Note Rupees Rupees
Income
Return on financing and placements 23 9,915,851 5,991,623
Return on securities 24 45,001,255 55,289,799
Gain on sale of investments 8,415,870 19,974,708
Profit on deposit with banks 448,284 640,485
Other income 25 1,088,475 2,055,046
———- ———-
64,869,735 83,951,661
Expenditure
Finance cost 26 35,949,287 50,392,110
Administrative expenses 27 28,217,932 30,164,626
———- ———-
64,167,219 80,556,736
———- ———-
Profit before taxation 702,516 3,394,925
Taxation 28 1,859,760 6,411,421
———- ———-
Profit for the year 2,562,276 9,806,346
———- ———-
Earnings per share-basic and diluted 29 0.05 0.19

 

The annexed 1 to 42 form an integral part of these financial statements.

For more information, contact:
Security Investment Bank Limited
6th Floor, Uni Towers,
I.I. Chundrigar Road,
Karachi- 74000, Pakistan
Ph: (92-21) 32418410-13
Fax: (92-21) 32418414
E-mail: sibl@sibl.com.pk
Website: www.sibl.com.pk

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