Golden Son Limited announcements
348 Dhaka Stock Exchange announcements for Golden Son Limited (GOLDENSON) since 2008: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (25).
- Emphasis of Matter
(Emphasis of Matter): The auditor of the company has given the following 'Emphasis of Matter' paragraph in the audit report of the company prepared for the year ended on 30 June 2017. Emphasis of Matter: We draw attention to note# 33.b enclosed in the financial statements. Note: 33.b: The office of the Customs Bond Commissionerate vide their judgement letter # 75/2017 dated 29 October 2017 has cancelled the Bonded Warehouse License and imposed penalty with an (cont.) (Continuation news of GOLDENSON): aggregate value of Tk. 432,901,811.61 with an allegation of non-compliance of customs rules and regulations. A writ petition no. 16004 and 16078 of 2017 against the above Customs judgement rulings were made before the Hon'ble Supreme Court of Bangladesh High Court Division within the stipulated time frame and the company has obtained the Stay Order in respect of restoration of Bond License and cancellation of the penalty amount on 13 November 2017. (end)
- Change of 13th AGM Date
The Company has further informed that due to unavoidable circumstances the 13th AGM will now be held on December 30, 2017 instead of earlier declared date December 24, 2017. Other information will remain unchanged.
- Financial Penalty imposed on the Company
The Customs Bond Commissionerate, Govt. of the People's Republic of Bangladesh, brought an allegation against Golden Son Limited regarding illegal transfer of products produced from duty free imported raw materials from the Bonded Warehouse under bond facility and illegally sell those products in the open market. The Company failed to satisfy the complaints that were brought against them after investigation regarding illegal transfer of products produced from duty free imported raw materials and (cont. 1) (Continuation news of GOLDENSON): directing the Company to deposit a total of Tk. 27,01,700.32 to Govt. treasury within 15 days of issuing this Order. Moreover, as the offences made by the Company are severe and the company has repeatedly committed the same offences, the tendency of the company to commit offence is evident. As the tendency for committing their offence is evident; to secure the Govt. Revenue, financial penalty has been imposed on the Company by issuing the said Order. (end) (Continuation news of GOLDENSON): selling of those products in the open market. As the allegations against the Company were undisputedly proven and established, the Customs Bond Commissionerate, as per Section 111 of the Customs Act, 1969, has imposed penalty of total Tk. 27,01,700.32 (including Tk. 20,00,000.00 as financial penalty + Tk. 7,01,700.32 as duty for illegal transfer of raw materials) to Golden Son Limited. The Customs Bond Commissionerate has issued an Order dated November 30, 2017 (cont. 2)
- Resumption after record date
Trading of the shares of the Company will resume on 04.12.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 03.12.2017.
- Spot for AGM
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 from 20.11.2017 to 30.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 03.12.2017.
- Q1 Financials
(Q1 Un-audited): Consolidated EPS was Tk. (0.37) for July-September, 2017 as against Tk. (0.13) for July-September, 2016; Consolidated NOCFPS was Tk. (0.79) for July-September, 2017 as against Tk. 0.23 for July-September, 2016. Consolidated NAV per share was Tk. 22.72 as on September 30, 2017 and Tk. 23.09 as on June 30, 2017.
- Dividend Declaration
The Board of Directors has recommended No dividend for the year ended on June 30, 2017. Date of AGM: 24.12.2017, Time: 11:00 AM, Venue: Factory Premises at Khowaj Nagar, Ajimpara, Karnafully, Chittagong. Record Date: 03.12.2017. The Company has also reported Consolidated EPS of Tk. (1.27), Consolidated NAV per share of Tk. 23.09 and Consolidated NOCFPS of Tk. (0.41) for the year ended on June 30, 2017 as against Tk. 0.17, Tk. 24.62 and Tk. (0.82) 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 (13.11.2017) following its corporate declaration.
- Category Change
The Company will be placed in 'Z' category from existing 'B' category with effect from November 14, 2017 as the Company has recommended No 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 any security of Golden Son Limited with effect from November 14, 2017 as per BSEC Directive No. SEC/CMRRCD/2001-43/169 dated October 01, 2009.
- 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 14, 2017 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- Financial Penalty & Cancellation of the bonded warehouse license
The Customs Bond Commissionerate, Govt. of the People's Republic of Bangladesh, brought an allegation against Golden Son Limited regarding illegal transfer of duty free imported raw materials from the bonded warehouse and storage of raw materials in the bonded warehouse with an illegal transfer intention. The Company failed to satisfy the complaints that were brought against them after investigation regarding illegal transfer of duty free imported raw materials from the bonded warehouse and (cont. 1) (Continuation news of GOLDENSON): But after the cancelation of the bond license, necessary actions can be taken by the Bonder under section 98(A) of The Customs Act, 1969. However, under the circumstance of cancelation of the bond license, the company can still continue its production or operation as a Non-Bonded Company. (end) (Continuation news of GOLDENSON): Moreover, as the offences made by the Company are severe and the company has repeatedly committed the same offences, the tendency of the company to commit offence is evident. As the tendency for committing offence is evident, to secure the Govt. Revenue, under the power conferred by the section 13(3) of The Customs Act, 1969, the bonded warehouse license of the company has been cancelled. (cont. 4) (Continuation news of GOLDENSON): that were required to be complied by the Company + Tk. 10,44,15,913.81 as duty for illegal transfer of raw materials + Tk. 2,84,85,897.80 as duty for storage of raw materials with an intention to illegal transfer). The Customs Bond Commissionerate has issued an Order dated October 29, 2017 directing the Company to deposit a total of Tk. 43,29,01,811.61 to Govt. treasury within 15 days of issuing this Order. (cont. 3) (Continuation news of GOLDENSON): storage of raw materials, semi finished goods and finished goods in the bonded warehouse with an illegal intention to transfer the same. As the allegations against the Company were undisputedly proven and established, the Customs Bond Commissionerate, as per the Customs Act, 1969, has imposed penalty to Golden Son Limited of total Tk. 43,29,01,811.61 (Tk. 3,00,000,000 crore as financial penalty for contravention of several conditions (cont. 2)
- 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 November 12, 2017 at 3:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Sale confirmation of a Director
Ms. Lin Yu Chen, one of the Directors of the Company, has further reported that she has completed her sale of 10,00,000 shares of the Company at prevailing market price through Stock Exchange as announced earlier.
- Q3 Financials
(Q3 Un-audited): Consolidated EPS was Tk. (0.16) for January-March 2017 as against Tk. (0.05) for January-March 2016; Consolidated EPS was Tk. (0.43) for July 2016-March 2017 as against Tk. 0.38 for July'15-March'16. Consolidated NOCFPS was Tk. 0.27 for July 2016-March 2017 as against Tk. (1.00) for July 2015-March 2016. Consolidated NAV per share was Tk. 23.91 as of March 31, 2017 and Tk. 24.62 as of June 30, 2016.
- 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 30, 2017 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Sale declaration of a Director
Ms. Lin Yu Chen, one of the Directors of the Company, has expressed her intention to sell 10,00,000 shares out of her total holding of 2,91,84,300 shares of the Company at prevailing market price (in the Public Market) through Stock Exchange within April 30, 2017.
- Sale confirmation of a Director
Mr. Belal Ahmed, one of the Directors of the Company, has further reported that he has completed his sale of 40,00,000 shares of the Company at prevailing market price through Stock Exchange, as announced earlier
- Sale declaration of a Director
Mr. Belal Ahmed, one of the Directors of the Company, has expressed his intention to sell 40,00,000 shares out of his total holding of 1,44,59,699 shares of the Company at prevailing market price (in the Public Market) through Stock Exchange within next 30 working days.
- Credit Rating Result (Correction News)
Credit Rating Agency of Bangladesh Limited (CRAB) announced the Entity Rating (Surveillance) of the Company as "AA3" (which was earlier disseminated on 01.01.2017 inadvertantly as "AA1") along with stable outlook based on audited financial statements up to June 30, 2016 and bank liability position as on September 29, 2016.
- Q2 Financials
(Q2 Un-audited): Consolidated EPS was Tk. (0.14) for October-December, 2016 as against Tk. (0.02) for October-December, 2015; Consolidated EPS was Tk. (0.27) for July-December, 2016 as against Tk. 0.42 for July-December, 2015. Consolidated NOCFPS was Tk. (1.17) for July-December, 2016 as against Tk. (1.30) for July-December, 2015. Consolidated NAV per share was Tk. 24.07 as of December 31, 2016 and Tk. 24.62 as of June 30, 2016.
- 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 January 30, 2017 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.
- Address Change of Share Office
The Company has informed that the share office of the Company will be shifted from Road #07, House # 1058, Mirpur DOHS, Mirpur-12, Dhaka to new address at House # 10/B, Road # 90, Flat #1/A, Gulshan-2, Dhaka with effect from January 16, 2017.
- Credit Rating Result
Credit Rating Agency of Bangladesh Limited (CRAB) has announced the Entity Rating (Surveillance) of the Company as "AA1" along with stable outlook based on audited financial statements up to June 30, 2016 and bank liability position as on September 29, 2016.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.