CVO Petrochemical Refinery PLC. announcements
328 Dhaka Stock Exchange announcements for CVO Petrochemical Refinery PLC. (CVOPRL) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (23).
- Category Change
The Company will be placed in 'B' category from existing 'A' category with effect from December 28, 2017 as the Company has approved 2% stock dividend for the year ended on June 30, 2017.
- Prohibition on providing loan facilities to purchase securities
DSE NEWS: The Stock Brokers and Merchant Bankers are requested to abstain from providing loan facilities to purchase security of CVO Petrochemical Refinery Limited in between 1st to 30th trading day after change of categorization, with effect from December 28, 2017 as per BSEC Directive No. SEC/CMRRCD/2009-193/177 and BSEC Order No. SEC/CMRRCD/2009-193/178 dated October 27, 2015.
- Resumption after record date
Trading of the shares of the Company will resume on 03.12.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2017.
- Spot News
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle with cum benefit from 28.11.2017 to 29.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2017.
- Dividend Declaration
The Board of Directors has recommended 2% stock dividend for the year ended on June 30, 2017. Date of AGM: 27.12.2017, Time: 11:00 AM, Venue: Corporate Office Premises: 37 Katalgonj, Panchlaish, Chittagong. Record date: 30.11.2017. The Company has also reported EPS of Tk. (3.42), NAV per share of Tk. 14.57 and NOCFPS of Tk. (0.64) for the year ended on June 30, 2017 as against Tk. 7.40, Tk. 20.50 and Tk. 9.92 respectively for the same period of the previous year.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (31.10.2017) following its corporate declaration.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. (0.07) for July-September, 2017 as against Tk. (0.28) for July-September, 2016; NOCFPS was Tk. (4.53) for July-September, 2017 as against Tk. 1.95 for July-September, 2016. NAV per share was Tk. 14.49 as on September 30, 2017 and Tk. 14.57 as on June 30, 2017.
- Board Meeting schedule under LR 19(1)
As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on October 30, 2017 at 3:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on October 30, 2017 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- Resumption of Production
With reference to their earlier news (disseminated by DSE on 16.01.2017) the Company has further informed that Sylhet Gas Fields Limited has restarted the supply of raw materials (Condensate) to the factory of CVO Petrochemical Refinery Limited from June 19, 2017 by the Order of Energy & Mineral Resources Division of Ministry of Power, Energy & Mineral Resources, Bangladesh. Therefore, the Company has restarted the production process from June 19, 2017.
- Category Change
The Company will be placed in "A" category from existing "Z" category with effect from June 21, 2017 as the Company has restarted its commercial production.
- Prohibition on providing loan facilities to purchase securities
DSE NEWS: The Stock Brokers and Merchant Bankers are requested to abstain from providing loan facilities to purchase any security of CVO Petrochemical Refinery Limited in between 1st to 30th trading day after change of categorization, with effect from June 21, 2017 as per BSEC Directive No. SEC/CMRRCD/2009-193/177 and BSEC Order No. SEC/CMRRCD/2009-193/178 dated October 27, 2015.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.97) for January-March, 2017 as against Tk. 1.23 for January-March, 2016; EPS was Tk. (2.34) for July, 2016-March, 2017 as against Tk. 7.12 for July, 2015-March, 2016. NOCFPS was Tk. 0.60 for July, 2016-March, 2017 as against Tk. 8.26 for July, 2015-March, 2016. NAV per share was Tk. 15.67 as of March 31, 2017 and Tk. 20.50 as of June 30, 2016. Reference to their earlier news disseminated by DSE on 10.08.2016, the Company has further informed that (cont.1) (Continuation news of CVOPRL): suggested to settle the matter through arbitration as the agreements, so executed by CVO Petrochemical Refinery Limited with BPC and SGFL stipulates for settlement of any dispute through arbitration. Company is expecting to get positive settlement very soon by arbitration.(end) (Continuation news of CVOPRL): The CVO Petrochemical Refinery Limited filed Writ Petition No. 9572/2016 for resuming the supply of Condensate by SGFL, as SGFL suddenly stopped supply of Condensate to the company without assigning any reason or prior show cause notice. After contested hearing on the matter, honourable High Court in its judgment dated February 16, 2017 (cont.2)
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on April 29, 2017 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Transmission of Deceased Sponsor's shares among his successors
The Company has informed that total 11,13,750 shares of Late Sponsor Mahmudul Haque Mubin will be transmitted to his successors (his brothers and sisters) in the following manner according to the Succession Certificate issued by the Honorable Court, within April 30, 2017: (1) 61,874 shares to Mansur Alam (Sponsor), (2) 61,876 shares to Shamsul Alam Shamim (Sponsor Director), (cont. 1) (Continuation news of CVOPRL): to Md. Ali Mortuza (Sponsor), (6) 61,874 shares to Md. Emranul Hoq (Sponsor Director), (7) 61,875 shares to Mohammad Mohsin Saky (Sponsor Director), (8) 61,876 shares to Nure Habib Noman (Sponsor), (9) 30,938 shares to Jubeda Khanam Safi (Sponsor) and (10) 30,938 shares to Joynob Rifat (Sponsor). (end) (Continuation news of CVOPRL): (3) 6,18,751 shares to A.H.M. Habib Ullah (Sponsor Director) (including shares of Abida Mahnoor Meheka, minor daughter of late Sponsor Mahmudul Haque Mubin; A.H.M. Habib Ullah was appointed as her guardian), (4) 61,874 shares to Md. Amin (Sponsor Director) (5) 61,874 shares (cont. 2)
- Deceased Sponsor's/Director's shares
With reference to their earlier news (disseminated by DSE on 10.01.2017) regarding transmission of deceased Sponsor's/Director's shares to his nominee, the Company has further informed that 11,13,750 shares of late Mr. Md. Nurul Alam Ansari, former Sponsor/ Director of the company has been transmitted to the account of his nominee Mr. Shamsul Alam Shamim, another Sponsor/Director of the Company; the younger brother of Late Mr. Md. Nurul Alam Ansari.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. (0.94) for October-December, 2016 as against Tk. 3.38 for October-December, 2015; EPS was Tk. (1.37) for July-December, 2016 as against Tk. 5.88 for July-December, 2015. NOCFPS was Tk. 1.44 for July-December, 2016 as against Tk. 7.79 for July-December, 2015. NAV per share was Tk. 16.64 as of December 31, 2016 and Tk. 20.50 as of June 30, 2016. The Company, among others, has informed that the Board of Directors of the Company has observed that the discouraging financial position of the Company has been caused due to discontinuance of commercial operation owing to arbitrary suspension of the supply of condensate by Sylhet Gas Fields Ltd. from July 17, 2016.
- Dividend Disbursement
The Company has informed that it has disbursed cash dividend for the year ended on June 30, 2016.
- Category Change
The Company will be placed in "Z" category from existing "A" category with effect from January 23, 2017 in accordance with the regulation 2(1)(z) of the Dhaka Stock Exchange (Settlement of Transactions) Regulations, 2013 since the Company is not in continuous operation for more than 6 (six) months.
- Prohibition on providing loan facilities to purchase securities
The Stock Brokers and Merchant Bankers are requested to abstain from providing loan facilities to purchase any security of CVO Petrochemical Refinery Limited, with effect from January 23, 2017 as per BSEC Directive No. SEC/CMRRCD/2001-43/169 dated October 01, 2009.
- Production status of the company
In response to a DSE query regarding the confirmation about commencement date of suspension of production of the company, the Company has informed, among others, the following, "Sylhet Gas Fields Ltd. arbitrarily stopped the supply of condensate from 17 July, 2016. But they informed us about their action through their letter dated 27 July, 2016. After that we ran our production from our stock of condensate until 20 July 2016. From 21 July 2016, our production was totally off due to shortage of condensate."
- Transmission of Deceased Sponsor's/Director's shares to his nominee
The Company has informed that Mr. Md. Nurul Alam Ansari, one of the Sponsors/ Directors of the Company passed away on 29.10.2016. His present holding is 11,13,750 shares. These shares will be transmitted to the account of his nominee Mr. Shamsul Alam Shamim, another Sponsor/Director of the Company; the younger brother of Late Mr. Md. Nurul Alam Ansari.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.