950821

3-month extension

in Ghemni right

shares payment,

renunciation

RECORDER REPORT

KARACHI: The Board of Directors of Ghemni Leasing Company Limited has approved deferment of the last date of renunciation/payment of the company's Rs 125 million right shares for three months upto November 22, 1995.

The sponsors of the company, Ghandhara Nissan Limited, have contributed their portion of right shares of Rs 36.25 million before Ghemni's application to Karachi Stock Exchange (KSE) for Deferment of the last date of renunciation, in compliance with the condition laid down by KSE.

The Company announced 100 percent right issue at a premium of Rs 15 per share, raising the subscription price to Rs 25 per share.

The earning per share (EPS) of Ghemni was Rs 3.26 in 1994 (Rs 2.28 in 1993), an improvement of 43 percent. The company has paid a cash dividend of 20 percent for the year ending December 31, 1994.