Oimex Electrode Limited announcements
156 Dhaka Stock Exchange announcements for Oimex Electrode Limited (OIMEX) since 2017: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (47).
- The auditor of the company has given the \"Qualified Opinion and Emphasis of Matters\" paragraphs in the Auditor\'s Repo
The auditor of the company has given the \"Qualified Opinion and Emphasis of Matters\" paragraphs in the Auditor\'s Report of the company for the year ended June 30, 2023. To view the details, please visit: https://www.dsebd.org/Auditors_opinion/2023/dec/Oimex_Electrode_Limited_2023.pdf
- (Q1 Un-audited): EPS was Tk. (0.22) for July-September 2023 as against Tk. (0.28) for July-September 2022. NOCFPS was Tk
(Q1 Un-audited): EPS was Tk. (0.22) for July-September 2023 as against Tk. (0.28) for July-September 2022. NOCFPS was Tk. (4.58) for July-September 2023 as against Tk. (0.05) for July-September 2022. NAV per share was Tk. 2.70 as on September 30, 2023 and Tk. 11.44 as on September 30, 2022. The company has also informed that NOCFPS has been decreased due to increase of production utilization as OEL is planning to expand its operation.
- As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a 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 December 21, 2023 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2023.
- Trading of the shares of the company will resume on 03.12.2023.
Trading of the shares of the company will resume on 03.12.2023.
- Trading of the shares of the company will remain suspended on record date i.e., 30.11.2023.
Trading of the shares of the company will remain suspended on record date i.e., 30.11.2023.
- Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled
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 28.11.2023 to 29.11.2023 and trading of the shares will remain suspended on record date i.e., 30.11.2023.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (12.11.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Dividend Declaration
The Board of Directors has recommended No Dividend for the year ended June 30, 2023. Date of AGM: 31.12.2023, Time: 10:30 AM, Venue: Digital Platform. Record Date: 30.11.2023. The Company has also reported EPS of Tk. (0.82), NAV per share of Tk. 2.92 and NOCFPS of Tk. (0.86) for the year ended June 30, 2023 as against Tk. (1.65), Tk. 11.72 and Tk. (0.57) respectively for the year ended June 30, 2022.
- 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 11, 2023 at 6:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2023.
- Update of Registered Office address
The Company has informed that it has changed its Registered Office to The Pearl Trade Center, Cha-90/3, North Badda, Dhaka on October 10, 2023.
- Utilization of the proceeds of raised paid-up capital
Refer to their earlier news disseminated by DSE on 05.10.2023 regarding raising paid-up capital of the company, the company has further informed that the said share money deposit BDT 60,000,000.00 had been collected for the payment of bank liability of Islami Bank Bangladesh Limited, Elephant Road Branch, Dhaka and the fund has already been fully utilized.
- Refer to their earlier news disseminated by DSE on 26.07.2023 regarding raising paid-up capital of the company, the comp
Refer to their earlier news disseminated by DSE on 26.07.2023 regarding raising paid-up capital of the company, the company has further informed that BSEC has agreed in principle to accord consent for raising the paid up capital of the company from existing BDT 670,847,810.00 to BDT 730,847,810.00 to existing shareholders of the company (cont.)
- BSEC consent regarding raising paid-up capital of the Company
(Continuation news of OIMEX): (namely JO Holdings Limited: 5,760,000 ordinary shares, Opgenhaffen Holdings Limited: 1,20,000 ordinary shares and NJ Holdings Limited: 1,20,000 ordinary shares) in cash consideration under the Securities and Exchange Commission (Issue of Capital) Rules, 2001. (end)
The first part of this announcement is missing from the archive. - The company has informed that the Board of Directors of the Company in its meeting held on July 25, 2023 took the follow
The company has informed that the Board of Directors of the Company in its meeting held on July 25, 2023 took the following decisions: \"Resolved that an amount of Tk. 60,000,000.00 (Six Crore) divided into 6,000,000 (Sixty lac) Ordinary shares at Tk. 10 each will be raised as Paid-up Capital of the Company from the existing directors as share money deposit.\" The above proposal has been submitted earlier to BSEC after receiving the letter from Bangladesh Securities and Exchange Commission (cont.1)
- (Continuation news of OIMEX): ref: BSEC/SRMIC/100-2017/239, dated 12 June 2022. The aforesaid proposal has not been duly
(Continuation news of OIMEX): ref: BSEC/SRMIC/100-2017/239, dated 12 June 2022. The aforesaid proposal has not been duly accepted by BSEC due to non-compliance with articles 13 and 53 of the memorandums exposed which are as follows- Article 13. Where the directors decide to increase the capital of the company by the issue of further shares, such shares shall be offered to members in proportion to the existing shares held by each member. Article 53. (cont.2)
The first part of this announcement is missing from the archive. - Regarding raising paid-up capital of the Company
(Continuation news of OIMEX): All new shares shall be offered in first instance and either at per or at a premium to all the then holders of all classes of shares in the proportion of the amount of capital held by them. As a result, the above-said proposal has been reconsidered and submitted again to BSEC to get a proper review complying with articles 13 and 53 of the memorandums exposed. (end)
The first part of this announcement is missing from the archive. - Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended June 30, 2022 to the respective shareholders.
- Regarding non-submission of Dividend Distribution Compliance Report
The Company did not submit Dividend Distribution Compliance Report as per Regulation-29 of the Dhaka Stock Exchange (Listing) Regulations, 2015 in connection with disbursement of the declared dividend for the year ended June 30, 2022. However, DSE has issued a query letter to the company in this regard.
- 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.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.18) for January-March 2023 as against Tk. (0.40) for January-March 2022; EPS was Tk. (0.70) for July 2022-March 2023 as against Tk. (1.17) for July 2021-March 2022. NOCFPS was Tk. (0.07) for July 2022-March 2023 as against Tk. (0.57) for July 2021-March 2022. NAV per share was Tk. 11.02 as on March 31, 2023 and Tk. 11.72 as on June 30, 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 April 30, 2023 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2023.
- National Credit Ratings Limited has assigned the entity rating of the Company as \"BBB-\" in the long term and \"ST-3\"
National Credit Ratings Limited has assigned the entity rating of the Company as \"BBB-\" in the long term and \"ST-3\" in the short term along with Developing outlook based on audited financial statements as on June 30, 2022 and six month\'s management prepared financial statement from July 01, 2022 to December 30, 2022.
- Category Change
The Company has been placed in 'B' category from existing 'A' category with effect from April 05, 2023 as the Company has approved 1% Cash dividend for General Shareholders other than Sponsors and Directors for the year ended June 30, 2022.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. (0.24) for October-December 2022 as against Tk. (0.41) for October-December 2021; EPS was Tk. (0.53) for July-December 2022 as against Tk. (0.77) for July-December 2021. NOCFPS was Tk. (0.37) for July-December 2022 as against Tk. (0.53) for July-December 2021. NAV per share was Tk. 11.19 as on December 31, 2022 and Tk. 11.72 as on June 30, 2022.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. (0.28) for July-September 2022 as against Tk. (0.35) for July-September 2021. NOCFPS was Tk. (0.05) for July-September 2022 as against Tk. (0.23) for July-September 2021. NAV per share was Tk. 11.44 as on September 30, 2022 and Tk. 11.72 as on September 30, 2021.
- Regarding communication about the cash dividend and other matters
The Company has requested its shareholders to communicate at The Pearl Trade Center (Level-11), Cha-90/3, Progati Sarani, North Badda, Dhaka-1212, mobile number: 01755549029 and email address: [email protected] regarding communication about the cash dividend and any other matters.
- 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 March 05, 2023 at 06:00 PM to consider, among others, un-audited financial statements of the company for the First Quarter (Q1) and Second Quarter (Q2) period ended September 30, 2022 and December 31, 2022 respectively.
- Resumption after record date
Trading of the shares of the company will resume on 28.02.2023 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 27.02.2023.
- 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 with cum benefit from 23.02.2023 to 26.02.2023 and trading of the shares will remain suspended on record date i.e., 27.02.2023.
- The auditor of the Oimex Electrode Limited has given the \"Qualified Opinion\" and \"Emphasis of Matter\" paragraphs in
The auditor of the Oimex Electrode Limited has given the \"Qualified Opinion\" and \"Emphasis of Matter\" paragraphs in the Auditor\'s Report for the year ended June 30, 2022. Basis for Qualified Opinion: a) Tax deducted at source and VAT deducted at source was not at all complied with when making payment for expenditures. Total expenditures included purchase of raw materials, factory (cont.1)
- (Continuation news of OIMEX): overhead, administrative, selling and distribution expense. A non-compliance of Income Tax
(Continuation news of OIMEX): overhead, administrative, selling and distribution expense. A non-compliance of Income Tax Ordinance 1984 and VAT and SD Act 2012. b) Deferred tax of BDT 43,429,302.00 (Note 13.00), the liability amount could not be confirmed due to non-availability of details of tax base. The deferred tax charged to statement of Profit or Loss for the year is BDT 2,966,574.00 (Note 28.02). Emphasis of Matter: We also (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): draw attention to the various notes to the financial statements, which describe the effect
(Continuation news of OIMEX): draw attention to the various notes to the financial statements, which describe the effects of events or matters. Our opinion is not modified in respect of those events or matters: 1) Property, Plant and Equipment (PPE): The company did not maintain fixed assets registers/ details properly, with details containing information such as identification number of assets held, date of acquisition, cost (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): of purchase, category of assets, accumulated depreciation, etc. Due to lack of such update
(Continuation news of OIMEX): of purchase, category of assets, accumulated depreciation, etc. Due to lack of such update records, existence, completeness and accuracy of the said fixed assets were not identifiable. 2) Capital Work in Progress: The above include the following: a) Assets: Plant and Machinery, as per last a/c: 33,544,679.00; Addition during the Year: None; Total Work in Progress: 33,544,679.00. b) Assets: (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): Building and Constructions, as per last a/c: 11,085,136.00; Addition during the Year: None
(Continuation news of OIMEX): Building and Constructions, as per last a/c: 11,085,136.00; Addition during the Year: None; Total Work in Progress: 11,085,136.00. Assests of Total BDT as per last a/c: 44,629,815.00; No Addition during the year and Total Work in Progress: 44,629,815.00. Plant and Machinery include construction of Furnace for boiling iron/ coil rod which was started during the year 2019-2020, with a (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): budgeted cost of BDT 40,000,000.00 and the said Furnace is expected to complete by 2021-20
(Continuation news of OIMEX): budgeted cost of BDT 40,000,000.00 and the said Furnace is expected to complete by 2021-2022. Management could not complete the said furnace project within 2021-22. Management are in doubt whether the said Furness could be completed by 30.06.2023. Building and Construction was started during the year 2018-19 and during this 3 year\'s period the following cost have been incurred, tilt the said (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): construction not yet be completed. Amount in BDT up to 2019-2020: 7,558,311.00; 2020-2021:
(Continuation news of OIMEX): construction not yet be completed. Amount in BDT up to 2019-2020: 7,558,311.00; 2020-2021: 3,526,825.00; 2021-22: None and in Total BDT 11,085,136.00. 3) Trade and Other Receivables: The Company sold its products in the local market, during past few years major sales were on credit. There are 23 Nos. of balances on the debtors list BDT 291,340,103.00 (Note 7.00). During the year 2020-2021, (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): BDT 3,033,574.00 (Note 17.00) have been provided for doubtful debts. No new provision is m
(Continuation news of OIMEX): BDT 3,033,574.00 (Note 17.00) have been provided for doubtful debts. No new provision is made during the year. Balance confirmation letters were sent to individual parties. 4) Inventories: Inventory reported as BDT 282,425,336.00 (Note 6.00) in the financial statements. We are unable to carry out the inventory counting as on 30 June 2022 as our appointment was postdated. On our factory (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): visit to check the inventory at a later date, we checked the inventory on a sample test ba
(Continuation news of OIMEX): visit to check the inventory at a later date, we checked the inventory on a sample test basis. Hence the inventory figure reported in the financial statements, we need to rely on management report of inventory at year end. No basis for work in progress was provided by the management. The Company maintained a volume of raw materials in its stock, last year it was BDT 201,469,922.00 and this year it is (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): also BDT 201,069,922.00 on 30.06.2022, whereas total consumption was BDT 20,781,621.00 (No
(Continuation news of OIMEX): also BDT 201,069,922.00 on 30.06.2022, whereas total consumption was BDT 20,781,621.00 (Note 23.01) during the year 2021-2022. This is not desirable hence, in our opinion no such purchase should be there, rather consumption should be from existing stock first. If sales increase substantially then purchase of raw materials may be made as per requirement. 5) Workers\' Profit Participation and (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): Welfare Fund (WPP and WF): No amount paid on account of WPP and WF during the year under a
(Continuation news of OIMEX): Welfare Fund (WPP and WF): No amount paid on account of WPP and WF during the year under audit from the due amount of BDT 636,140.00 (Note 19.00), as at 30.06.2021 to the outstanding employees. 6) No gratuity policy is maintained by the company for its permanent employees, a non-compliance of section 27(4) of the Bangladesh Labour Act 2006 as amended. 7) Contingent (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of OIMEX): liabilities for pending tax cases remains unverified due to non-availability of required d
(Continuation news of OIMEX): liabilities for pending tax cases remains unverified due to non-availability of required documents. Also, no disclosure is given in the financial statements in this regard. 8) During the year under audit revenue was BDT 12,700,352.00 (Note 22.00) against previous year (2020-21) BDT 222,321,746.00, which is 5.71\% from previous year. (cont.12)
The first part of this announcement is missing from the archive. - Qualified Opinion and Emphasis of Matter
(Continuation news of OIMEX): The fall of revenue during the year is very significant and threat of going concern if the management do not take any necessary measures. (end)
The first part of this announcement is missing from the archive. - The Board of Directors has recommended 1\% cash dividend to general shareholders other than Sponsors and Directors for t
The Board of Directors has recommended 1\% cash dividend to general shareholders other than Sponsors and Directors for the year ended June 30, 2022. The Sponsors and Directors hold 20,133,184 shares out of total 67,084,781 shares of the Company. General shareholders hold 46,951,597 shares and general shareholders will get cash dividend of Tk. 4,695,159.70. (cont.)
- Dividend Declaration
(Continuation news of OIMEX): Date of AGM: 30.03.2023, Time: 2:00 PM, Venue: Digital Platform. Record Date: 27.02.2023. The Company has also reported EPS of Tk. (1.65), NAV per share of Tk. 11.72 and NOCFPS of Tk. (0.57) for the year ended June 30, 2022 as against Tk. 0.08, Tk. 13.38 and Tk. 0.88 respectively for the same period of the previous year. (end)
The first part of this announcement is missing from the archive. - Price Limit Open
There will be no price limit on the trading of the shares of the Company today (06.02.2023) 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 February 05, 2023 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.