Pakistan Reinsurance Company Limited
Statement of Changes in Equity
for the Half Year ended June 30, 2003 (Unaudited)
Share Capital Share Premium Account Exceptional Losses reserve General Reserve Reserve for issue of bonus shares Unappropriated profit Total
Particulars
----------------------------------------------------------- Rupees ---------------------------------------------------------------
Balance as at Jan 1, 2002       50,000,080        10,725    631,000,000         127,409,000               54,747,866          863,167,671
Net profit for the year ended  31-12-2002                         -                    -                          -                               -                          -               333,374,848          333,374,848
Issue of bonus shares                         -         (10,725)   (350,000,000)          (49,989,915)     400,000,640                                 -                               -  
Issue of bonus shares     400,000,640                  -                          -                               -     (400,000,640)                                 -                               -  
Write back of investment fluctuation reserve                         -                          -                          -               117,229,715          117,229,715
Transfer to reserves         300,000,000           (300,000,000)                             -  
Propsed dividend @ 15% (Rs. 1.5 per share)              (67,500,108)          (67,500,108)
             
Balance as at Dec 31, 2002     450,000,720                  -      281,000,000         377,419,085                        -               137,852,321      1,246,272,126
Net profit for the Half Year ended 30-06-2003                         -                    -                          -                               -                          -   303,578,674          303,578,674
Balance as at June 30, 2003     450,000,720                  -      281,000,000         377,419,085                        -               441,430,995      1,549,850,800
The annexed notes form an integral part of these financial statements
Naheed Hyder
Maj (R) Mohammad Fazal Durrani
Syed Yawar Ali
Fazlur Rehman Dittu
Executive Director (F&A)
Chief Executive
Director
Director
Karachi,  August 20,  2003