Samata Leather Complex Ltd. announcements
250 Dhaka Stock Exchange announcements for Samata Leather Complex Ltd. (SAMATALETH) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (26).
- Basis for 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 2017: Basis for Qualified Opinion: The company did not measure, recognise and account for following issues complying Bangladesh Financial Reporting Standards: i) Deferred tax matter has not been considered in the financial statements. (cont.1) (Continuation news of SAMATALETH): iv) As per nature of business of the company the product is exportable but no export has taken place during the year. v) Without paying installment against land amount of Tk. 18,18,000 has been recognized as advance installment against land (Note-10b) by crediting liability. (end) (Continuation news of SAMATALETH): ii) Depreciation has been charged on revalued amount of property, Plant & Equipment but the depreciation charged on excess of cost has not been transferred to Retained Earnings from Revaluation Reserve Account. iii) Full year's depreciation has been charged on addition to property, plant and equipment instead of date of acquisition and due to following such policy excess depreciation has been charged. (cont.2)
- Message from the Company regarding their price hike of shares
Regarding unusual hike of share price of the Company, the Company has given the following message to their valuable shareholders and concerned authorities: "We have observed recent unusual trends of our Company's share in the stock market. For your kind information, (cont.) (Continuation news of SAMATALETH): our Company could not be able to achieve any financial development because the Company is still facing shortage of working capital. Samata Leather Complex Limited is still passing its shifting and construction process at Hemayetpur, Savar, Dhaka. We have no decision or resolution that may change the share price abnormally ". (end)
- Date change of the EGM
The Company has further informed that the Board of Directors has decided to change the date of EGM from December 24, 2017 to January 02, 2018. Other information related to the EGM will remain unchanged.
- Resumption after record date
Trading of the shares of the Company will resume on 11.12.2017 after record date.
- Suspension for Record Date for EGM
Trading of the shares of the Company will remain suspended on record date i.e., 10.12.2017 for EGM.
- Query Response
In response to a DSE query dated November 27, 2017, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
- 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 27.11.2017 to 07.12.2017. Trading of the shares of the Company will remain suspended on record date i.e., 10.12.2017 for EGM.
- Resumption after record date
Trading of the shares of the Company will resume on 22.11.2017 after record date.
- EGM to amend a clause in the Articles of Association
The Company has informed that the Board of Directors has recommended and decided to convene an EGM on 24.12.2017 at 9:30 AM in the factory premises in 120, Sher-E-Bangla Road, Hazaribagh, Dhaka to consider and pass the following resolution as "Special Resolution": to change clause no.-54 of the Articles of Association of the following matter: (cont. 1) (Continuation news of SAMATALETH): "The Company can open bank accounts in the name of the Company in one or more than one banks. The bank accounts will be operated in the joint signatures of the MD along with any Director or any three Directors (appointed Directors without being in the Board of Directors) can also be the signatory of the Company ". Record date for EGM: 07.12.2017. (end) (Continuation news of SAMATALETH): Previous clause 54: "The Company can open bank accounts in the name of the Company in one or more than one banks. The bank accounts will be operated with the joint signatures of the MD, Chairman or anyone from other Directors." This clause will be replaced by a new clause which will be as follows: (cont. 2)
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 21.11.2017.
- Change of Record Date for EGM
Referring to their earlier news (disseminated today i.e. 20.11.2017) on convening an EGM to amend a clause in the Articles of Association, the Company has further informed that they have revised the record date for EGM on December 10, 2017 instead of December 07, 2017. The other information will remain unchanged.
- 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 from 08.11.2017 to 20.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 21.11.2017.
- Dividend Declaration
The Board of Directors has recommended No dividend for the year ended on June 30, 2017. Date of AGM: 24.12.2017, Time: 10:30 AM, Venue: Factory premises, 120, Sher-E-Bangla Road, Hazaribagh, Dhaka. Record Date: 21.11.2017. The Company has also reported EPS of Tk. (0.17), NAV per share of Tk. 14.59 and NOCFPS of Tk. 1.72 for the year ended on June 30, 2017 as against Tk. (0.06), Tk. 14.76 and Tk. 0.97 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 (01.11.2017) following its corporate declaration.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. (0.01) for July-September, 2017 as against Tk. (0.09) for July-September, 2016; NOCFPS was Tk. 0.18 for July-September, 2017 as against Tk. 0.37 for July-September, 2016. NAV per share was Tk. 14.58 as on September 30, 2017 and Tk. 14. 66 as on September 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 October 31, 2017 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 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 31, 2017 at 4:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Query Response
In response to a DSE query dated August 27, 2017, the Company has informed the following: "Our Company couldn't be able to achieve any financial development because the company is still facing shortage of working capital because Company is still passing its shifting and construction process at Hemayetpur, Savar, Dhaka. Also have no decision or resolution that may change the share price abnormally."
- Query Response
In response to a DSE query dated July 24, 2017, the Company has given the following response: "Our company couldn't be able to achieve any financial development because the company is still facing shortage of working capital and also have no decision or resolution that may change the share price abnormally."
- Q3 Financials (Repeat)
(Repeat): (Q3 Un-audited): EPS was Tk. (0.03) for January-March 2017 as against Tk. (0.01) for January-March 2016; EPS was Tk. (0.07) for July 2016-March 2017 as against Tk. (0.04) for July'15-March'16. NOCFPS was Tk. (0.04) for July 2016-March 2017 as against Tk. 0.85 for July 2015-March 2016. NAV per share was Tk. 14.69 as of March 31, 2017 and Tk. 14.79 as of March 31, 2016.
- Query Response
In response to a CSE query dated June 22, 2017, the Company has informed the following, "Our Company could not be able to achieve any financial development because the Company is still facing shortage of working capital and also we have no decision or resolution that may change the share price abnormally."
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.03) for January-March 2017 as against Tk. (0.01) for January-March 2016; EPS was Tk. (0.07) for July 2016-March 2017 as against Tk. (0.04) for July'15-March'16. NOCFPS was Tk. (0.04) for July 2016-March 2017 as against Tk. 0.85 for July 2015-March 2016. NAV per share was Tk. 14.69 as of March 31, 2017 and Tk. 14.79 as of March 31, 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 30, 2017 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.038 for October-December, 2016 as against Tk. 0.003 for October-December, 2015; EPS was Tk. (0.005) for July-December, 2016 as against Tk. (0.003) for July-December, 2015. NOCFPS was Tk. 0.95 for July-December, 2016 as against Tk. 0.76 for July-December, 2015. NAV per share was Tk. 14.71 as of December 31, 2016 and Tk. 14.80 as of December 31, 2015.
- 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 31, 2017 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.
- Basis for Qualified Opinion
The auditor of the company has given the following Basis for Qualified Opinion in the audit report of the company for the year ended on 30 June 2016: Basis for Qualified Opinion: The company did not measure, recognize and account for following issues complying Bangladesh Financial Reporting Standards: i) Deferred tax liability amounting to Tk 15,68,958 was not recognized in the financial statements. ii) The company revalued its Property, Plant & Equipment in the year 1997 but depreciation has been charged on cost instead of revalued amount and due to not charging depreciation on revalued amount depreciation has been charged and accounted for less by the amount of Tk. 15,27,994; iii) Preliminary expenses amounting to Tk. 22,58,730 has been recognized as asset instead of charging in Statement of Comprehensive Income. iv) Full year's depreciation has been charged on addition to property, plant and equipment instead of date of acquisition and due to following such policy excess depreciation has been charged by the amount of Tk. 4,31,106. v) As per nature of business of the company the product is exportable but no export has taken place during the year. vi) Without paying installment against land amount of Tk. 18, 18,000 have been recognized as advance installment against land (Note-10b) by crediting liability. Due to not measuring and recognizing above issues as per Bangladesh Financial Reporting Standards the operational results of the company have been inflated. Had the above issues been recognized complying the Bangladesh Financial Reporting Standards in the financial statements the loss of the company for the year would have been Tk. 5570383 instead of Tk. 645807 and Earnings per Share would have been loss Tk. (0.54) instead of loss Tk (0.06), and net asset value per share as on 30 June 2016 would have been Tk 13.18 instead of Tk 14.76.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.