Legacy Footwear PLC announcements
383 Dhaka Stock Exchange announcements for Legacy Footwear PLC (LEGACYFOOT) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (24).
- Resumption after record date
Trading of the shares of the Company will resume on 23.11.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 22.11.2022.
- The auditor of the Legacy Footwear Limited has given the \"Qualified Opinion\" paragraphs in the Auditor\'s Report for t
The auditor of the Legacy Footwear Limited has given the \"Qualified Opinion\" paragraphs in the Auditor\'s Report for the year ended 30 June 2022. Basis for Qualified Opinion: 1) The Company has transacted almost all of its transactions in cash including payment salary, capital investment, finance related transactions and finally all sales and purchase related transactions. This is a non-compliance of (cont.1)
- (Continuation news of LEGACYFOOT): Section 30(i) and (m) of Income Tax Ordinance 1984. This can lead to additional Incom
(Continuation news of LEGACYFOOT): Section 30(i) and (m) of Income Tax Ordinance 1984. This can lead to additional Income Tax liability in the future when the National Board of Revenue has completed the Income Tax Assessments for the Company\'s tax returns. We are unable to quantify the potential liability that could be imposed on the Company due to the fact that that there are several years of tax assessments pending for the (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): audit procedures we were unable to obtain reliable and sufficient information to dete
(Continuation news of LEGACYFOOT): audit procedures we were unable to obtain reliable and sufficient information to determine the existence of this liquid asset. As a result, we have concluded that the asset balance is overstated on the financial statements. 3) During the year, the Company has paid Salary and Director\'s Remuneration. However, while making these payments, the Company did not deduct any Income Taxes at source which is (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): a violation of Section 50 (for Salary) and Section 52AA (for Director\'s Remuneration
(Continuation news of LEGACYFOOT): a violation of Section 50 (for Salary) and Section 52AA (for Director\'s Remuneration) Income Tax Ordinance 1984. This can lead to additional Income Tax liability in the future when the National Board of Revenue has completed the Income Tax Assessments for the Company\'s tax returns. We are unable to quantify the potential liability that could be imposed on the Company due to the fact that (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): there are several years of tax assessments pending for the Company (details in Note 1
(Continuation news of LEGACYFOOT): there are several years of tax assessments pending for the Company (details in Note 14 to the financial statements). Due to this lack of information, we are unable to quantify the impact of this contravention of the Income Tax Ordinance on the financial statements. 4) The Company has unpaid Dividends worth BDT 2,780,960.00 as at 30 June 2022 out of which BDT 2,080,960.00 relates to dividends which have (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): remained unpaid for more than three (3) years. As per Section 9 of Bangladesh Securit
(Continuation news of LEGACYFOOT): remained unpaid for more than three (3) years. As per Section 9 of Bangladesh Securities and Exchange Commission [\"BSEC\"] Notification BSEC/CMRRCD/2021-391/20/Admin/121, these funds have to be transferred to the Capital Market Stabilization Fund set up the BSEC. The Company has failed to transfer the unclaimed dividend funds to the designated BSEC fund and have therefore violated (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): the rules and regulations of the BSEC. 5) The Company had a payable related to Worker
(Continuation news of LEGACYFOOT): the rules and regulations of the BSEC. 5) The Company had a payable related to Worker\'s Profit Participation Fund as at 30 June 2021 worth BDT 539,282.00 Out of this, the Company was only able to transfer BDT 323,000.00 to the fund during the current year. This is a violation of Section 234(b) of Bangladesh Labour Act 2006 which states that liability related to Worker\'s Profit Participation Fund has to be (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): settled within nine (9) months of the following year. 6) As at 30 June 2022, the Comp
(Continuation news of LEGACYFOOT): settled within nine (9) months of the following year. 6) As at 30 June 2022, the Company has recognized Accounts Receivable worth BDT 95,604,506.00 (BDT 100,636,322.00 as at 30 June 2021). These balances have remained uncollectable for several years and the Company has been recognizing impairment on asset for the past years. Based on our audit procedures, we have concluded that the expected (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of LEGACYFOOT): credit loss on this financial asset is significantly higher than the impairment recog
(Continuation news of LEGACYFOOT): credit loss on this financial asset is significantly higher than the impairment recognized by the Company. Therefore, the impairment loss recognized is not in line with Section 5.5.15 of IFRS 9 and the asset is over-stated by BDT 95,604,506.00. (end)
The first part of this announcement is missing from the archive. - Q1 Financials
(Q1 Un-audited): EPS was Tk. (0.62) for July-September 2022 as against Tk. 0.05 for July-September 2021; NOCFPS was Tk. (0.06) for July-September 2022 as against Tk. (0.41) for July-September 2021. NAV per share was Tk. 9.21 as on September 30, 2022 and Tk. 9.83 as on June 30, 2022.
- Qualified Opinion
(Continuation news of LEGACYFOOT): Company (details in Note 14 to the financial statements). Due to this lack of information, we are unable to quantify the impact of this contravention of the Income Tax Ordinance on the financial statements. 2) The Company has recognized BDT 38,290,022.00 and BDT 19,591,270.00 as Cash in Hand, held at their Head Office and Factory premises as per Note 9 to the financial statements. However, through our (cont.3)
The first part of this announcement is missing from the archive. - Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled as per spot settlement cycle from 20.11.2022 to 21.11.2022. Trading of the shares of the Company will remain suspended on record date i.e., 22.11.2022.
- 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 19, 2022 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2022.
- Decision to raise paid up capital through issuance of ordinary shares
The Company has informed that the Board of Directors has decided to raise paid up capital through issuance of 30,000,000 ordinary shares of Tk. 10.00 each amounting to Tk. 300,000,000.00 to the existing Directors other than existing Shareholders against cash consideration subject to the approval of Bangladesh Securities and Exchange Commission.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (01.11.2022) following its corporate declaration. However, as per the BSEC Order No. BSEC/CMRRCD/2001-07/39 dated July 28, 2022, the floor price shall be applicable accordingly.
- Dividend Declaration
The Board of Directors has recommended No Dividend for the year ended June 30, 2022. Date of AGM: 25.12.2022, Time: 12:30 PM, Venue: Digital Platform. Record Date: 22.11.2022. The Company has also reported EPS of Tk. (0.86), NAV per share of Tk. 9.83 and NOCFPS of Tk. 1.12 for the year ended June 30, 2022 as against Tk. 0.39, Tk. 10.83 and Tk. 3.06 respectively for the same period of the previous year.
- 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 31, 2022 at 4:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.05) for January-March 2022 as against Tk. (0.63) for January-March 2021; EPS was Tk. 0.06 for July 2021-March 2022 as against Tk. 0.07 for July 2020-March 2021. NOCFPS was Tk. (0.19) for July 2021-March 2022 as against Tk. 1.58 for July 2020-March 2021. NAV per share was Tk. 10.82 as on March 31, 2022 and Tk. 10.83 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 April 27, 2022 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2022.
- Q2 Financials
(Q2 Audited): EPS was Tk. 0.03 for October-December 2021 as against Tk. 0.41 for October-December 2020; EPS was Tk. 0.11 for July-December 2021 as against Tk. 0.09 for July-December 2020. NOCFPS was Tk. (0.40) for July-December 2021 as against Tk. (0.04) for July-December 2020. NAV per share was Tk. 10.94 as on December 31, 2021 and Tk. 10.83 as on June 30, 2021.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended June 30, 2021 to the respective shareholders.
- 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 31, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2021.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.