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 2018 (23).
- Restriction by BSEC on sale/transfer/transmission/pledge of shares
BSEC News: BSEC, vide its Directive No. BSEC/SRMIC/36/2013/728 dated November 27, 2018, has directed DSE, CSE and CDBL to the effect that: - "The Stock Brokers and the Depository Participants (DP) shall not entertain any type of sale or transfer or transmission or pledge of shares of Khulna Power Company Limited (KPCL) by its sponsors, directors and the substantial (10% or more) shareholders of the company until further order of the Commission. This directive shall have immediate effect."
- Qualified Opinion
(Basis for Qualified Opinion): The auditor of the company has given the following "Basis for Qualified Opinion" paragraph in the audit report of the company prepared for the year ended on 30 June 2018. Basis for Qualified Opinion: The Power Purchase Agreement (PPA) between the Company and Bangladesh Power Development Board (BPDB) relating to the KPCL-I plant expired (cont. 1) (Continuation news of KPCL): property, plant and equipment amounting to BDT 2,213,495,104 relating to the plant may be impaired. In this regard, in the absence of a determined recoverable value, we are unable to obtain sufficient audit evidence on whether the recoverable amount of such assets exceeds their carrying value. (end) (Continuation news of KPCL): on 12 October 2018. As per BPDB instruction, the plant ceased operation from that date. The Company has applied for an extension to the PPA; BPDB has not concluded on the application nor has it instructed for the plant to resume operations in the meantime. As per BAS 36: Impairment of Assets, this is an indication that (cont. 2)
- Response to a DSE query
In response to a DSE query, regarding clarification on a recent news published in the online newspaper namely www.arthosuchak.com as regard to "110 MW Power Plant is closed, concealment of information by KPCL for ill motivation" on November 19, 2018, (cont. 1) (Continuation news of KPCL): The audited financial statements of 2017-2018 (including auditor's qualified opinion on KPCL-1) has also being shared with BSEC, DSE and CSE and published in our web site on 14th November 2018. As above, we believe that the Company did not suppress any information and the report made by Arthosuchak was not based on facts." (end) (Continuation news of KPCL): the resumption of the said pant will be informed in due course; accordingly we are having discussion with BPDB. Furthermore, it was all through known that the tenure of 1st amended PPA of this Plant would expire on 12th October 2018 which was clearly mentioned in the audited financial statements 2016-2017 notes 1.1 under company profile. (cont. 3) (Continuation news of KPCL): the company has given the following response: "The news containing the heading published in online paper is not correct, as they (Arthosuchak) mentioned that "110 MW power plants has been closed and KPCL has suppressed the news intentionally". The PPA of subject power plant is being expired on 12th October 2018 and BPDB has informed us that (cont. 2)
- Resumption after record date
Trading of the shares of the Company will resume on 25.11.2018 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 22.11.2018.
- 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 19.11.2018 to 20.11.2018. Trading of the shares of the Company will remain suspended on record date i.e., 22.11.2018.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 1.53 for July-September, 2018 as against Tk. 1.41 for July-September, 2017; NOCFPS was Tk. 0.93 for July-September, 2018 as against Tk. 1.17 for July-September, 2017. NAV per share was Tk. 28.40 as on September 30, 2018 and Tk. 26.87 as on June 30, 2018.
- Withdrawal of Suspension of trading of shares of KPCL
(DSENEWS): The Board of Directors of DSE, in its meeting held on November 11, 2018, has decided to withdraw the suspension of trading of shares of Khulna Power Company Limited, with immediate effect, as Summit Corporation Limited, the Corporate Sponsor Director of the company has decided to sell their remaining 1,59,04,435 shares (out of 1,80,64,235 shares as per declaration disseminated on 04.11.2018) in the BLOCK MARKET instead of public market.
- 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, 2018 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, 2018.
- Suspension of trading of shares of KPCL
(DSENEWS): The Board of Directors of DSE, in its meeting held on November 07, 2018, has decided to suspend the trading of shares of Khulna Power Company Limited in accordance with Sub Section-7 of Section-9 of the Securities and Exchange Ordinance, 1969 and Regulation 50(1) of the DSE (Listing) Regulations, 2015, with immediate effect.
- Sale Declaration of a Corporate Sponsor Director
Summit Corporation Limited, one of the Corporate Sponsors Directors of the Company, has expressed its intention to sell 1,80,64,235 shares out of its total holding of 6,37,34,727 shares of the Company at prevailing market price (In the Public Market) through Stock Exchange (DSE) within next 30 working days.
- Dividend Declaration
The Board of Directors has recommended 30% cash and 10% stock dividend for the year ended on June 30, 2018. Date of AGM: 09.12.2018, Time: 12:30 PM, Venue: Krishibid Institution, Bangladesh, Khamarbari Road, Farmgate, Tejgaon, Dhaka. Record Date: 22.11.2018. The Company has also reported EPS of Tk. 6.18, NAV per share of Tk. 26.87 and NOCFPS of Tk. 2.09 for the year ended on June 30, 2018 as against Tk. 5.07, Tk. 26.20 and Tk. 4.78 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 (31.10.2018) following its corporate declaration.
- 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, 2018 at 6:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2018.
- 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 of shares.
- 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 and increase in volume of shares.
- Query Response
In response to a DSE query dated June 18, 2018, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
- Credit Rating Result
Credit Rating Information and Services Limited (CRISL) has rated the Company as "AAA" in the long term and "ST-1" in the short term along with a stable outlook based on audited financial statements of the Company up to June 30, 2017, un-audited financials up to March 31, 2018 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 1.21 for January-March 2018 as against Tk. 1.40 for January-March 2017; EPS was Tk. 3.93 for July 2017-March 2018 as against Tk. 3.91 for July 2016-March 2017. NOCFPS was Tk. 11.15 for July 2017-March 2018 as against Tk. 12.86 for July 2016-March 2017. NAV per share was Tk. 24.63 as on March 31, 2018 and Tk. 26.20 as 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 April 24, 2018 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, 2018.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 1.32 for October-December, 2017 as against Tk. 1.10 for October-December, 2016; EPS was Tk. 2.73 for July-December, 2017 as against Tk. 2.52 for July-December, 2016. NOCFPS was Tk. 8.16 for July-December, 2017 as against Tk. 8.61 for July-December, 2016. NAV per share was Tk. 23.42 as on December 31, 2017 and Tk. 26.20 as 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 January 27, 2018 at 2:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2017.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended on June 30, 2017 to the respective shareholders' Bank Accounts through BEFTN. Dividend warrants of shareholders whose Bank Accounts are not under BEFTN facilities have already been dispatched to the registered address through courier service.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.