Karachi, Awwal Modaraba Management Limited informed Pakistan Stock Exchange that the board meeting of the company is scheduled to be held on August 26, 2016 at Karachi. The agenda of the meeting shall be consideration of annual accounts for the period ended June 30, 2016.
Further, the closed period of the company shall be from August 19, 2016 to August 26, 2016 (both days inclusive).
Awwal Modaraba Management Limited (AMML) is licensed by the Registrar of Modarabas, Securities and Exchange Commission of Pakistan to float and manage multipurpose Modaraba Funds. The Company was incorporated on June 5, 2014 with an authorized and paid-up capital of PKR 300 million and PKR 105 million, respectively, as a wholly owned subsidiary of Pak Brunei Investment Company Limited (“Pak Brunei”).
The establishment of a Modaraba Management Company (MMC) is expected to translate into significant financial benefits for its shareholders and investors in the Modaraba funds.
The symbol “AWWAL” is being used by the stock exchange for the Awwal Modaraba Management Limited.