IFAD Autos PLC. announcements
205 Dhaka Stock Exchange announcements for IFAD Autos PLC. (IFADAUTOS) since 2015: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (35).
- Adjusted opening price of the Company
This is for information of all concerned that the Company's 5% stock dividend declared on 19.10.17 with record date on 12.11.17 applies to existing shares excluding upcoming shares to be issued for right issue. Therefore, adjusted opening price has been automatically calculated considering additional number of shares.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 2.42 for July-September, 2017 as against Tk. 0.99 for July-September, 2016; NOCFPS was Tk. (6.46) for July-September, 2017 as against Tk. (1.63) for July-September, 2016. NAV per share was Tk. 41.07 as on September 30, 2017 and Tk. 38.61 as on June 30, 2017.
- Resumption after record date
Trading of the shares of the Company will resume on 13.11.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 12.11.2017.
- 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 benefits from 08.11.2017 to 09.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 12.11.2017.
- 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 November 11, 2017 at 05:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- Commencement of Body Building Unit
The Company has informed that the Board of Directors has taken a decision that the production of new Body Building Unit of the Company will be commenced from 1st November, 2017 located at Dhamrai, Dhaka (Dhamrai Project) which was financed from the IPO Fund. The estimated capacity of this unit will be 840 units per year.
- Dividend Declaration
The Board of Directors has recommended 21% cash dividend for shareholders (other than Sponsors/Directors) and 5% stock dividend for all shareholders for the year ended on June 30, 2017. Date of AGM: 10.12.2017, Time: 3:30 PM, Venue: Samarai Convention Centre, 23/G/7, Panthapath, Dhaka-1205. Record Date: 12.11.2017. (cont.) (Continuation news of IFADAUTOS): The Company has also reported EPS of Tk. 6.74, NAV per share of Tk. 38.61 & NOCFPS of Tk. (7.99) for the year ended on June 30, 2017 as against Tk. 3.83 (restated), Tk. 33.57 (restated) and Tk. (11.73) (restated) respectively for the same period of the previous year. (end)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (19.10.2017) following its corporate declaration.
- Dividend Declaration (additional information)
(Additional information): With reference to their earlier news disseminated today (19.10.2017), the Company has further informed that the Sponsors/Directors of the Company hold total 9,75,97,700 shares out of total 15,54,80,000 shares of the Company and general shareholders will get total cash dividend of Tk. 12,15,52,830.
- Resumption after Record Date
Trading of the shares of the Company will resume on 19.10.2017 after record date.
- Suspension on Record Date for Rights entitlement
Trading of the shares of the Company will remain suspended on record date i.e., 18.10.2017 for Rights entitlement.
- Record date for Rights entitlement
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 the entitlement of Rights shares from 16.10.2017 to 17.10.2017. Trading of the shares of the Company will remain suspended on record date i.e., 18.10.2017.
- 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 18, 2017 at 4:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Subscription period, Record date & purpose for Rights Issuance
The Company has further informed that the subscription period for rights issue will be from 19.11.2017 to 14.12.2017 (during banking hours). Record date for entitlement of rights share: 18.10.2017. The purpose of the issuance of rights shares is to raise further paid up capital for expansion of the business, to meet the requirement of working capital and to pay off debts of the Company.
- Approval accorded from BSEC for Rights Issuance
BSEC has accorded approval to Ifad Autos Limited for issuance of 62,192,000 Ordinary shares of Tk. 10.00 each at an issue price of Tk. 20.00 each including a premium of Tk. 10.00 per share totaling Tk. 1,243,840,000.00 at a ratio of 2R:5 (2 Rights share for 5 existing shares). The approval has been accorded subject to the condition that the Company shall comply with the requirements (cont.) (continuation news of IFADAUTOS): embodied in the Securities and Exchange Commission (Rights Issue) Rules, 2006 and other relevant laws and regulatory requirements, and shall also adhere to the conditions imposed under Section-2CC of the Securities and Exchange Ordinance, 1969. (end)
- Increasing Authorized Share Capital of the Company in the EGM
The Company has sent minutes of their 5th EGM, held on 25.07.2017, from which it is revealed that the shareholders of the company, among others, has approved the increase of Authorized share capital of the Company from Tk. 200.00 crore to Tk. 300.00 crore and amended clause 5 of the Memorandum of Association and Article 6 of the Article of Association of the Company in the EGM.
- Land Purchase
The Company has informed that the Board of Directors has decided to purchase 46 decimal land at Belishor, Sutipara, Dhamrai, Dhaka at a cost of Tk. 36.00 lac only including registration cost.
- Decision to sell land
The Company has informed that the Board of Directors has decided to sell 402.34 decimal land (Book Value Tk. 63,891,592.00) at Khalia, Dhamrai, Dhaka and 767.25 decimal land (Book Value Tk. 121,839,300.00) at Khulla, Dhamrai, Dhaka and subsequently purchase land adjacent to IFAD Autos Limited's assembly unit. The detailed proceed of sale will be notified after its execution.
- Resumption after Record Date
Trading of the shares of the Company will resume on 04.07.2017 after record date for EGM.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 03.07.2017 for EGM. Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from BSEC.
- Spot News for EGM
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 29.06.2017 to 02.07.2017. Trading of the shares of the Company will remain suspended on record date i.e., 03.07.2017 for EGM. Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from BSEC.
- Rights Declaration
The Company has informed that the Board of Directors of the Company has decided to issue Rights share at the rate of 2R:5 (i.e. two Rights share for every five shares held) at an issue price of Tk. 20.00 each (including premium of Tk. 10.00 each) on paid up capital subject to approval by shareholders in EGM and BSEC and the other Regulatory Authorities. The amount raising from the Rights issue will be used for expansion of the Business, (cont.) (Continuation news of IFADAUTOS): to meet the requirement of working capital and to pay off Debts of the Company. Date of EGM: 25.07.2017, Time: 3:30 PM, Venue: Samarai Convention Center, 23/G/7, Panthapath, Dhaka-1205. Record date: 03.07.2017. Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from BSEC. (end)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (05.06.2017) following its corporate declaration.
- MOU with a subsidiary Company to subscribe 49% of its equity shares
The Company has informed that the Board of Directors has approved and subsequently signed a MOU with Gulf Oil Bangladesh Limited, a subsidiary Company of Gulf Oil International Limited (UK) with a view to subscribe 49% of its equity shares at a cost of USD 1.685 million. Gulf Oil Bangladesh Limited is engaged in importing and selling its renowned brands of lubricant, grease and car care products in Bangladesh. (cont.) (continuation news of IFADAUTOS): GOI (Gulf Oil International) is present in 73 countries. The said investment is expected to contribute a profit of Tk. 4.36 crore in the next year towards overall profitability of the Company (approximately). The investment amount shall be financed from the own fund of Ifad Autos Limited. (end)
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 2.01 for January-March, 2017 as against Tk. 0.96 for January-March, 2016; EPS was Tk. 5.05 for July, 2016-March, 2017 as against Tk. 3.61 for July, 2015-March, 2016. NOCFPS was Tk. (9.95) for July, 2016-March, 2017 as against Tk. (9.08) for July, 2015-March, 2016. NAV per share was Tk. 36.95 as of March 31, 2017 and Tk. 33.58 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 29, 2017 at 5:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Credit Rating Result
Credit Rating Agency of Bangladesh Limited (CRAB) has announced the Entity Rating (Surveillance) of the Company as "AA3" along with stable outlook based on audited financial statements up to June 30, 2016; bank liability position as on December 31, 2016 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Project on Construction of a new office building
The Company has informed that the Board of Directors has taken decision to erect a 9 storied new office building, measuring of 37,935 square feet, situated at Tejgaon Industrial Area, Dhaka. The construction works of new office building, with a project duration of approximately 25 months, will commence on February 23, 2017. The total cost will be Tk. 43.00 crore (approx.) of which Tk. 30.00 crore will be financed from bank and the remaining amount shall be used out of the Company's own fund.
- Dividend Disbursement
The Company has informed that it has dispatched cash dividend to the general shareholders (other than Sponsors/Directors) for the year ended on June 30, 2016.
- Commencement of production of new (Assembly) unit
The Company has informed that the Board of Directors has taken the decision that production of new (Assembly) unit of the company, situated at Dhamrai, Dhaka, financed out of IPO & own fund, will be commenced on February 02, 2017. The estimated production from assembly unit will be 1,000 vehicles initially in the current year 2016-2017 (Approx.) and it will be increased to 3,000 vehicles in the next years 2017-2018 (Approx.). The production will gradually increase to 10,000 vehicles per annum and onward.
- Q2 Financials
EPS was Tk. 2.05 for October-December, 2016 as against Tk. 1.40 for October-December, 2015; EPS was Tk. 3.04 for July-December, 2016 as against Tk. 2.65 for July-December, 2015. NOCFPS was Tk. (6.61) for July-December, 2016 as against Tk. (5.55) for July-December, 2015. NAV per share was Tk. 34.96 as of December 31, 2016 and Tk. 33.58 as of June 30, 2016.
- Board Meeting
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 24, 2017 at 5:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.
- Dividend Disbursement
The Company has informed that it has credited the Bonus shares for the year ended on June 30, 2016 to the respective shareholders' BO Accounts on January 12, 2017.
- Query Response
In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.