Khulna Power Company Ltd. announcements
314 Dhaka Stock Exchange announcements for Khulna Power Company Ltd. (KPCL) since 2010: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2016 (17).
- Extension of two contracts with BPDB for next 5 years
The Company has informed that the extension of two contracts for the next 5 years for supply of power have been executed between Bangladesh Power Development Board (BPDB) and Khulna Power Company Limited (KPCL), relating to 115 MW HFO based power plant (KPC II) and Noapara 40 MW HFO based power plant (KPC III), with effect from June 01, 2016 and May 29, 2016 respectively.
- Emphasis of Matter
The auditor of the company has given the following "Emphasis of Matters" paragraph in the audit report of the company for the 18 months period ended on 30 June 2016. Emphasis of Matters: We draw users' attention to the following notes to the financial statements: Note 1.4: Management discloses that the legacy contract for supply of electricity on rental basis for 5 years with Bangladesh Power Development Board (BPDB) relating to KPCL-II expired on 31 May 2016 and KPCL-III expired on 28 May 2016 and explains why it believes the contracts will be extended for another five years: and Note 6.3: Receivables include Tk. 231,288,077 which is due from BPDB in connection with excess fuel consumption. In this note, management explains why it believes these amounts are fully recoverable. Our opinion is not qualified with regard to any of the above matters.
- AGM Date Change
The Company has further informed that due to unavoidable circumstances the 18th AGM of the Company will now be held on December 15, 2016 instead of December 14, 2016. Other information of the AGM is announced earlier.
- Resumption after record date
Trading of the shares of the Company will resume on 27.11.2016 after record date.
- Declaration of sale by a Corporate Sponsor
United Enterprises & Co. Ltd, one of the Corporate Sponsors of the Company has expressed intention to sell its entire holding of 12,74,69,456 shares of the Company at prevailing market price (in the Block Market) through Stock Exchange within next 30 working days.With reference to the earlier news disseminated today i.e. 23.11.2016 by DSE on Declaration of sale by a Corporate Sponsor namely United Enterprises & Co. Limited, it is to be further informed that BSEC has accorded its consent to the waiver from compliance of the Rule 8 and Rule 13 of the Securities & Exchange Commission (Substantial Acquisition) Rules, 2002 pursuant to the Rule 33 of the said Rules in respect of acquiring 12,74,69,456 nos. ordinary shares of Khulna Power Company Limited at a negotiated price of Tk. 65.00 in cash consideration to Shajahanullah Power Generation Company Limited through Block Market facilities of the trading system of the Exchanges subject to compliance of relevant provisions of Dhaka/Chittagong Stock Exchange (Listing) Regulations, 2015.
- 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 with cum benefit from 22.11.2016 to 23.11.2016. Trading of the shares of the Company will remain suspended on record date i.e., 24.11.2016.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 1.42 for July-September, 2016 as against Tk. 2.09 for July-September, 2015; NOCFPS was Tk. (1.53) for July-September, 2016 as against Tk. (3.00) for July-September, 2015. NAV per share was Tk. 26.05 as of September 30, 2016 and Tk. 24.63 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 November 14, 2016 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2016.
- Dividend Declaration
The Board of Directors has approved the audited financial statements for the 18 months period ended on June 30, 2016. The Board has recommended 35% final cash dividend in addition to 40% interim cash dividend (has already been paid) i.e. total 75% cash dividend for the said 18 months period. Date of AGM: 14.12.2016, Time: 11:00 AM, Venue: Krishibid Institution, Bangladesh Khamarbari Road, Farmgate, Tejgaon, Dhaka-1215. Record Date: 24.11.2016. The Company has also reported EPS of Tk. 9.82, NAV per share of Tk. 24.62 NOCFPS of Tk. 13.62 for the 18 months period from 01.01.2015 to 30.06.2016 and Tk. 3.16, Tk. 24.62 and Tk. 1.56 respectively for the 6 months period from January-June, 2016.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (30.10.2016) following its corporate declaration.
- Board meeting
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 29, 2016 at 6:00 PM to consider, among others, audited financial statements of the Company for the 18 months period from January 01, 2015 to June 30, 2016.
- Interim Dividend Disbursement
The Company has informed that Interim dividend for the 18 months period ended on June 30, 2016 has been disbursed through BEFTN on June 23, 2016. Dividend warrants has been dispatched to the registered address of the shareholders through courier on June 26, 2016.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 19.05.2016 for entitlement of interim dividend.
- Spot for interim dividend 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 cum benefit from 17.05.2016 to 18.05.2016. Trading of the shares of the Company will remain suspended on record date i.e., 19.05.2016 for entitlement of interim dividend.
- Interim Dividend Declaration
The Board of Directors has recommended 40% interim cash dividend on the basis of unaudited financial statements as at and for the 12 months ended on December 31, 2015. KPCL has extended its financial year for 18 months ending on 30th June 2016 with the permission of RJSC to comply with the Finance Act 2015. Record Date: 19.05.2016. The Company has also reported EPS of Tk. 7.56, NAV per share of Tk. 26.37 and NOCFPS of Tk. 11.04 for the period ended on December 31, 2015.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (28.04.2016) following its corporate declaration.
- Board Meeting
The Company has informed that a Board meeting will be held on 27th April, 2016 at 6:00 PM, to consider, among others, its unaudited financial statements for the year ended on 31st December, 2015 instead of adopting their Annual Audited Financial Statements. As per the Finance Act, 2015, the Company has applied to the RJSC and BSEC for their approval to change the current financial year to 30th June, 2016 instead of 31st December, 2015 i.e. 18 months period starting from January 1, 2015 to June 30, 2016.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.