Philip Morris Pakistan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on March 10, 2020.

The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2019 which portrayed a loss of Rs. 1,979,999 with loss per share 32.15 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

The announcement is available at:

https://dps.psx.com.pk/download/document/144490.pdf

Phillip Morris Pakistan Limited was incorporated on February 10, 1969. It is a publically listed company under the Companies Ordinance 1984. The company is a subsidiary of Phillip Morris International Inc., through Phillip Morris Investment B.V. and Phillip Morris Brands Sarl. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges. Its core activities include manufacturing tobacco and cigarettes. The registered office of the company is located in Karachi.

The company acquired a major stake in the business in 2007. The company has a tobacco-leaf threshing plant, three cigarette manufacturing factories and sales offices across the country. The employee strength amounts to around 2,500 people.

The symbol "PMPK" is being used by the stock exchanges for the shares of Phillip Morris Pakistan Limited.

© Pakistan Press International, source Asianet-Pakistan