Dhaka Electric Supply Company Limited announcements
295 Dhaka Stock Exchange announcements for Dhaka Electric Supply Company Limited (DESCO) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2021 (20).
- Resumption after record date
Trading of the shares of the Company will resume on 21.11.2021 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 18.11.2021.
- 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 16.11.2021 to 17.11.2021. Trading of the shares of the Company will remain suspended on record date i.e., 18.11.2021.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.14 for July-September 2021 as against Tk. 0.27 for July-September 2020; NOCFPS was Tk. 4.91 for July-September 2021 as against Tk. 4.71 for July-September 2020. NAV per share was Tk. 65.40 as on September 30, 2021 and Tk. 65.24 as on June 30, 2021.
- 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 November 11, 2021 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2021.
- The auditor of the Dhaka Electric Supply Company Ltd. has given the "Qualified Opinion" paragraphs in the Auditor's Repo
The auditor of the Dhaka Electric Supply Company Ltd. has given the "Qualified Opinion" paragraphs in the Auditor's Report for the year ended on 30 June, 2021. Qualified Opinion: 1. In the year 2013 an amendment has been made in section-232 of Labor Law-2006. Due to the amendment DESCO requires to maintain Workers Profit Participation Fund (WPPF). (cont.1)
- (Continuation news of DESCO): The company approves the requirement in this year and makes provision for 2017-18 and 2019
(Continuation news of DESCO): The company approves the requirement in this year and makes provision for 2017-18 and 2019-20. But the company didn't make provision for the years 2013-14 to 2016-17 which we have calculated amounting Tk. 201,366,278. As a result the company understates its liability by the same amount. (cont.2)
The first part of this announcement is missing from the archive. - Qualified Opinion & Emphasis of matters
(Continuation news of DESCO): 2. As per Labor Law-2006 (amendment 2013) Section 234(1) (b), an entity should pay amount of WPPF within 9 month of the close of every year. But the company did not pay amount of WPPF TK. 141,405,925 for which the entity didn�t charge any interest as per section 240(3). (end)
The first part of this announcement is missing from the archive. - Dividend Declaration
(Continuation news of DESCO): Net Income increases due to increase of sales volume and decrease of corporate tax rate. The Company has also reported that Before Revaluation NAV Per Share Tk. 47.99 and After Revaluation NAV Per Share Tk. 65.24. (end)
The first part of this announcement is missing from the archive. - Price Limit Open
There will be no price limit on the trading of the shares of the Company today (17.10.2021) following its corporate declaration.
- Revaluation of Fixed Assets
The Company has informed that the Board of Directors has approved the fixed asset revaluation report taking into consideration of audited financial statements of the Company for the year ended on June 30, 2019. The revaluation of fixed asset has been increased from BDT 20,914,530,962.00 to BDT 28,093,133,616.00. The revaluation surplus was BDT 7,178,602,654.00. Net Asset Value per share (NAV) would be increased by BDT 18.06.
- 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 14, 2021 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2021.
- Appointment of Chairman
The Company has informed that Mr. Md. Selim Uddin, Additional Secretary of Government of the people's Republic of Bangladesh has been appointed as the Chairman of the Board of Directors of the Company with effect from August 20, 2021.
- Declaration of Share Transfer
Bangladesh Power Development Board, Corporate Sponsor of the Company has expressed its intention to transfer its entire holdings of 26,37,93,834 shares of the Company to Dhaka Power Distribution Company Limited through outside the trading system of the Exchange to comply with the order of Power division, Ministry of Power, Energy and mineral Resources and as per approval letter of BSEC.
- Appointment of Chairman
The Company has informed that the Board of Directors has appointed Mr. Sheikh Faezul Amin, Addl. Secretary of Power Division, Ministry of Power, Energy & Mineral Resources as the Chairman of the Company with effect from May 19, 2021.
- Q3 Financials
(Continuation news of DESCO): Reason for Significant deviation in EPS and NOCFPS: EPS decreased due to increase in energy purchase in Tk. as well as increase in operating expenses, administrative expenses and employee expenses. NOCFPS increased due to increase of sales revenue and received from other operating and non-operating activities. (end)
The first part of this announcement is missing from the archive. - Revised EPS for the period from January-March 2020
(Q3 Un-audited): Referring to their earlier news disseminated on today 19.05.2021 regarding Q3 Financials, the Company has further informed that EPS for the period from January-March 2020 would be Tk. (0.70) instead of Tk. 0.23. The Company earlier mistakenly reported the EPS figure as mention above. Other information of the earlier disclosure will remain unchanged.
- 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 May 18, 2021 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2021.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended on June 30, 2020 to the respective shareholders' Bank Accounts through Fund Transfer/BEFTN.
- Q2 Financials
(Continuation news of DESCO): The Company also informed that EPS compared to last year decreased significantly due to declining sales because of Coronas effect and interest expenses against loan and payroll expenses also enhanced. (end)
The first part of this announcement is missing from the archive.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.