DSE:SUMITPOWER

Summit Power Limited announcements

394 Dhaka Stock Exchange announcements for Summit Power Limited (SUMITPOWER) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2010 (44).

  1. (correction ):(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2010 (July'10 to Se

    (correction ):(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2010 (July'10 to Sep'10), the company has reported profit of Tk. 288.10 million (excluding minority interest of Tk. 1.52 million) with EPS of Tk. 1.03 as against Tk. 204.25 million and Tk. 0.73 (restated) respectively for the same period of the previous year. Whereas profit was Tk. 845.18 million (excluding minority interest of Tk. 4.17 million) with EPS of Tk. 3.02 for the period of nine months (Jan'10 to Sep'10) ended on 30.09.10 as against Tk. 664.92 million and Tk. 2.39 (restated) respectively for the same period of the previous year. It is to be noted that EPS has been calculated based on weighted average number of shares outstanding.

  2. (Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2010 (July'10 to Sep'10), the com

    (Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2010 (July'10 to Sep'10), the company has reported profit of Tk. 204.25 million with EPS of Tk. 0.73 as against Tk. 664.92 million and Tk. 2.39 (restated) respectively for the same period of the previous year. Whereas profit was Tk. 288.10 million (excluding minority interest of Tk. 1.52 million) with EPS of Tk. 1.03 for the period of nine months (Jan'10 to Sep'10) ended on 30.09.10 as against Tk. 845.18 million (excluding minority interest of Tk. 4.17 million) and Tk. 3.04 (restated) respectively for the same period of the previous year. It is to be noted that EPS has been calculated based on weighted average number of shares outstanding.

  3. In response to a DSE query regarding clarification of newspaper reporting relating to collecting fund from Capital Marke

    In response to a DSE query regarding clarification of newspaper reporting relating to collecting fund from Capital Market published in "The Daily Samakal" dated 18.10.10, the company has informed that the news published in the newspaper is not based on facts.

  4. The company has further informed that it has converted its Preference shares into 2,53,61,973 Ordinary Shares of Tk. 10.

    The company has further informed that it has converted its Preference shares into 2,53,61,973 Ordinary Shares of Tk. 10.00 each at Tk. 118.27 after 20% discount on Tk. 147.84 being the weights average price of the Dhaka Stock Exchange Ltd. during the 30 days' trading effective from 01.08.10 to 30.08.10. The aforesaid converted ordinary shares of the company are expected to be credited on 14.09.10 to the respective shareholders' BO Accounts which will be under lock in for one year effective from 31.07.10.

  5. The company has further informed that the Board of Directors has allotted 9,424,226 Preference Shares of Tk. 100.00 each

    The company has further informed that the Board of Directors has allotted 9,424,226 Preference Shares of Tk. 100.00 each amounting to Tk. 942,422,600.00 to all valid applicants from among the recorded shareholders on record date (25 May, 2010). The balance 20,575,774 Preference Shares amounting to Taka 2,057,577,400.00 were allotted to 98 private placement applicants on pro-rata basis. This allocation was made in accordance with SEC's Consent Letter No. SEC/CI/CPLC-83/6/97 dated 13 July 2010 under the provisions of the Securities and Exchange Commission (Issue of Capital) Rules, 2001 for issue of 3,00,00,000 Fully Convertible, 2.5% Dividend, Preference Shares of Tk. 100.00 each amounting to Tk. 300,00,00,000.00

  6. The company has further informed that the subscription period for Preference Shares has been extended upto 27.07.10 and

    The company has further informed that the subscription period for Preference Shares has been extended upto 27.07.10 and the allotment of the preferance share will be issued on 05.08.10.

  7. As per un-audited half yearly accounts as on 30.06.10 (Jan' 10 to June' 10), the company has reported consolidated profi

    As per un-audited half yearly accounts as on 30.06.10 (Jan' 10 to June' 10), the company has reported consolidated profit of Tk. 556.96 million with consolidated restated EPS of Tk. 2.00 (considering face value of Tk. 10.00 per share) as against Tk. 322.52 million and Tk. 1.16 respectively for the same period of the previous year. Whereas consolidated profit was Tk. 295.51 million with consolidated restated EPS of Tk. 1.06 (considering face value of Tk. 10.00 per share) for the period of 3 months (Apr' 10 to June' 10) ended on 30.06.10 as against Tk. 244.70 million and Tk. 0.88 respectively for the same period of the previous year.

  8. The company has further informed that the capital so raised from issuance of Preference Shares will be used for meeting

    The company has further informed that the capital so raised from issuance of Preference Shares will be used for meeting its costs of targeted / planned projects, repayment of its debts and its working capital. The company has also informed that subscription period for Preference Shares issue will be from 18.07.10 to 25.07.10.

  9. SEC has given consent to the company, under the provisions of the Securities and Exchange Commission (Issue of Capital)

    SEC has given consent to the company, under the provisions of the Securities and Exchange Commission (Issue of Capital) Rules, 2001, for raising of capital through issuance of 3,00,00,000 Fully Convertible, 2.5% Dividend Preference Shares of Tk. 100.00 each at par totaling Tk. 300,00,00,000.00 only through existing ordinary shareholders and private placement. The consent has been accorded subject to the condition that the company shall comply with the relevant laws and regulatory requirements and shall also adhere to the conditions imposed by SEC under Section-2CC of the Securities and Exchange Ordinance, 1969.

  10. Normal trading of the shares of the company will resume on 11.07.10 after Record Date with new face value of Tk. 10.00 e

    Normal trading of the shares of the company will resume on 11.07.10 after Record Date with new face value of Tk. 10.00 each, market lot of 100 shares and adjusted open price of Tk. 137.40 as announced earlier.

  11. Following the change of the denomination of shares and market lot with effect from 08.07.10 (record date), the new face

    Following the change of the denomination of shares and market lot with effect from 08.07.10 (record date), the new face value of the shares of the company will be Tk. 10.00 instead of Tk. 100.00 per share, market lot will be 100 shares instead of 50 shares and the new adjusted open price of shares will be Tk. 137.40 per share.

  12. Trading of the shares of the company will remain suspended on record date i.e., 08.07.10 for changing the Face Value and

    Trading of the shares of the company will remain suspended on record date i.e., 08.07.10 for changing the Face Value and Market Lot.

  13. Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd lot transactions will also be

    Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per spot settlement cycle from 05.07.10 to 07.07.10. Trading of the shares of the company will remain suspended on record date i.e., 08.07.10 for changing the Face Value and Market Lot.

  14. The company has further informed that the Board has fixed the Record date on 08.07.10 in connection with the changing of

    The company has further informed that the Board has fixed the Record date on 08.07.10 in connection with the changing of Denomination of Shares from Tk. 100.00 to Tk. 10.00 and market lot from 50 to 100 shares.

  15. The company has informed that SEC has given its consent to the proposed change in the denomination of share value (face

    The company has informed that SEC has given its consent to the proposed change in the denomination of share value (face value) of Summit Power Limited from Tk. 100.00 to Tk. 10.00 each as well as the market lot from 50 to 100 shares.

  16. The company has informed that it has received Notification of Award (NOA) from Bangladesh Power Development Board (BPDB)

    The company has informed that it has received Notification of Award (NOA) from Bangladesh Power Development Board (BPDB) on June 06, 2010 for the supply of electricity on rental basis for 5 years at Madanganj, Narayanganj for a net electric power generation capacity of 102 MW. As per Price Sensitive Information published on October 30, 2009, the project will be implemented through a new special purpose company-Summit Narayanganj Power Limited where 55% shares is held by Summit Power Limited and the remaining 45% by Summit Industrial & Mercantile Corporation (Pvt.) Ltd.

  17. Normal trading of the shares of the company will resume on 26.05.10 after record date for EGM.

    Normal trading of the shares of the company will resume on 26.05.10 after record date for EGM.

  18. Trading of the shares of the company will remain suspended on record date i.e. 25.05.10 for EGM.

    Trading of the shares of the company will remain suspended on record date i.e. 25.05.10 for EGM.

  19. (Continuation of Spot news of SUMITPOWER): "Ordinary Shareholders on Record Date on 25 May 2010 will have the prerogativ

    (Continuation of Spot news of SUMITPOWER): "Ordinary Shareholders on Record Date on 25 May 2010 will have the prerogative to subscribe for 1,38,99,600 Preference Shares as on a 2:1 basis, i.e., shareholders holding 2 (two) existing Ordinary Shares will have the option to subscribe for 1 (one) Preference Share within 29th July 2010" subject to approval of the shareholders in the EGM & Regulatory Authorities.

    The first part of this announcement is missing from the archive.
  20. Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd lot transactions will also be

    Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle from 20.05.10 to 24.05.10. Trading of the shares of the company will remain suspended on record date i.e. 25.05.10 for EGM. It is to be noted here that the shareholders whose name will appear in the Share Register of the company or in the Depository Register on that date will be entitled to attend at the EGM. It is also to be mentioned here that as per serial no. 4 of the notice of the EGM of the company, (continue)

  21. (continuation of News of SUMITPOWER): 10. An Information Memoranda will be used to facilitate investment in the aforesai

    (continuation of News of SUMITPOWER): 10. An Information Memoranda will be used to facilitate investment in the aforesaid Preference Share Issue. The aforesaid Meeting also approved amendment in the Authorised Share Capital of the Company to Tk 1000,00,00,000.00 divided into 70,00,00,000 Ordinary Shares of Tk. 10.00 each amounting to Tk. 700,00,00,000.00 (changing the denomination from Tk 100.00 each to Tk 10.00 each; and market lot from 50 shares each to 100 shares each) and 3,00,00,000 Fully Convertible Preference Shares of TK. 100.00 each amounting to Tk. 300,00,00,000.00 subject to approval of the shareholders of the Company in their aforesaid EGM; and SEC's consent to the aforesaid changes in the Face Value and Market Lot of Ordinary Shares. (end)

    The first part of this announcement is missing from the archive.
  22. (continuation of News of SUMITPOWER): 5. The unsubscribed Preference Shares referred to in paragraph 4 above; and remain

    (continuation of News of SUMITPOWER): 5. The unsubscribed Preference Shares referred to in paragraph 4 above; and remaining 1,61,00,400 Preference Shares will be privately placed. 6. Preference Shares will be issued on 30th July 2010 provided SEC's consent to the aforesaid Preference Share Issue is obtained prior to that date. 7. There will be a one-year lock-in on the converted Ordinary Shares from the date of issue of the Preference Shares. 8. The Preference Shares will not be listed and/or publicly placed. However, these will be transferable like any other shares. 9. The fund raised from the aforesaid Preference Share Issue will be used for new/existing projects, repayment of bank loans and working capital. (cont.-4)

    The first part of this announcement is missing from the archive.
  23. (continuation of News of SUMITPOWER): 2. Once Preference Shares are converted into Ordinary Shares; and lock-in period t

    (continuation of News of SUMITPOWER): 2. Once Preference Shares are converted into Ordinary Shares; and lock-in period thereof expires, such ordinary shares shall be listed like other ordinary shares of the Company in the stock exchanges and tradable thereat. 3. An interim dividend at 2.5% will be paid on 31st August 2010 against the preference shares. Record date for interim dividend on Preference Shares shall be 30th August 2010. 4. Ordinary Shareholders on Record Date on 25 May 2010 will have the prerogative to subscribe for 1,38,99,600 Preference Shares as above on a 2:1 basis, i.e., shareholders holding 2 (two) existing Ordinary Shares will have the option to subscribe for 1 (one) Preference Share within 29th July 2010. (cont.-3)

    The first part of this announcement is missing from the archive.
  24. (continuation of News of SUMITPOWER): at 10-30 AM at Bangobandhu International Conference Center (BICC), Agargaon, Dhaka

    (continuation of News of SUMITPOWER): at 10-30 AM at Bangobandhu International Conference Center (BICC), Agargaon, Dhaka and SEC's consent to the aforesaid Preference Share Issue:- 1. The Preference Shares shall be converted into Ordinary Shares on 31st August 2010 at 20% discount to the weighted average price of the Dhaka Stock Exchange on the trading days during the period from 1 through 30 August 2010, subject to a minimum of Tk. 1,150.00 per share for each Tk. 100.00 share. However, if the face value of the Ordinary Share of the Company changes, minimum conversion price will change accordingly. (cont.-2)

    The first part of this announcement is missing from the archive.
  25. The Company has informed that the Board of Directors of the company has approved amendment to its earlier resolution on

    The Company has informed that the Board of Directors of the company has approved amendment to its earlier resolution on issuance of Preference Shares dated 29th March, 2010. As amended, the Board has now approved issuance of 3,00,00,000 (three crore) Preference Shares instead of 2,00,00,000 (two crore). The Preference Shares shall be of Tk. 100.00 each amounting to Tk. 300,00,00,000.00 fully convertible with 2.5% Dividend. The Preference Shares shall be issued on the following amended terms and conditions subject to approval of the shareholders of the Company in their Extra-Ordinary General Meeting (EGM) to be held on 21 June 2010 (with Record Date on 25 May 2010) (cont.-1)

  26. The company has informed that it has credited the stock dividend for the year 2009 to the respective shareholders' BO Ac

    The company has informed that it has credited the stock dividend for the year 2009 to the respective shareholders' BO Accounts on 03.05.10.

  27. The company has informed that the Government of Bangladesh' (GOB) formed a committee (the 'Committee') to alleviate the

    The company has informed that the Government of Bangladesh' (GOB) formed a committee (the 'Committee') to alleviate the ongoing power crisis on the fast track basis. Based on the Summit Power Limited's past track record, the company has been requested by the Committee to implement a 102 MW HFO based Rental Power Plant located at Madanganj, Narayanganj on rental basis for five years to help GOB in alleviating power crisis. The Company has initiated a Contract with Bangladesh power Development Board (BPDB) to implement 102 MW Power Plant at the above site subject to the approval of the Cabinet Purchase Committee.

  28. As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2010 (January - March 2010), the Company ha

    As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2010 (January - March 2010), the Company has reported profit after tax of Tk. 261.39 million with basic EPS of Tk. 11.75 as against Tk. 128.14 million and Tk. 5.76 respectively for the same period of the previous year. However, considering proposed bonus share @ 25% for the year 2009, diluted EPS will be Tk. 9.40 as on 31.03.10 and Tk. 4.61 (restated) as on 31.03.09.

  29. (continuation of news of SUMITPOWER): The date of shareholders meeting for taking special resolution for necessary amend

    (continuation of news of SUMITPOWER): The date of shareholders meeting for taking special resolution for necessary amendments in the Memorandum and Articles of Associations of the company will be notified after obtaining consent from the SEC in this regard.

    The first part of this announcement is missing from the archive.
  30. The company has informed that the Board of Directors has taken the following decisions: Subject to approval of the Secur

    The company has informed that the Board of Directors has taken the following decisions: Subject to approval of the Securities and Exchange Commission (SEC) and shareholders in the General Meeting the face value of each Ordinary Shares of the company shall be fixed at Tk. 10.00 each instead of existing Tk. 100.00 each with revised market lot of 100 shares of Tk. 10.00 each. Accordingly the Clause-V of the Memorandum of Association and Articles-5 of the Articles of Association of the company shall be substituted replacing the digits and words "Tk. 100" by "Tk. 10" wherever it appears in the said clause/article of Memorandum and Articles of Associations with corresponding change in number of ordinary shares. (continue)

  31. Normal trading of the shares of the company will resume on 08.04.10 after record date for AGM and EGM.

    Normal trading of the shares of the company will resume on 08.04.10 after record date for AGM and EGM.

  32. Trading of the shares of the company will remain suspended on record date i.e. 07.04.2010 for AGM and EGM.

    Trading of the shares of the company will remain suspended on record date i.e. 07.04.2010 for AGM and EGM.

  33. (Continuation of Spot news of SUMITPOWER): "Ordinary Shareholders on Record Date on 07 April 2010 will have the prerogat

    (Continuation of Spot news of SUMITPOWER): "Ordinary Shareholders on Record Date on 07 April 2010 will have the prerogative to subscribe for 55,59,840 Preference Shares as above on a 4:1 basis, i.e., shareholders holding 4 (four) existing Ordinary Shares will have the option to subscribe for 1 (one) Preference Share within 29 May 2010" subject to approval of the shareholders in the EGM and SEC's consent.

    The first part of this announcement is missing from the archive.
  34. Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd lot transactions will also be

    Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle with cum benefit from 04.04.10 to 06.04.10. Trading of the shares of the company will remain suspended on record date i.e. 07.04.10 for AGM and EGM. It is to be noted here that the shareholders whose name will appear in the Share Register of the company or in the Depository Register on that date will be entitled to attend at the EGM. It is also to be mentioned here that as per serial no. 4 of the notice of the EGM of the company, (continue)

  35. (continuation of news of SUMMITPOWER): 11. For the purpose of the aforesaid Preference Share Issue, the Authorized Share

    (continuation of news of SUMMITPOWER): 11. For the purpose of the aforesaid Preference Share Issue, the Authorized Share Capital of the Company shall be increased to Tk 1000,00,00,000, divided into 8,00,00,000 Ordinary Shares of Tk 100 each amounting to Tk 800,00,00,000; and 2,00,00,000 Fully Convertible Preference Shares of Taka 100 each amounting to Tk 200,00,00,000; and the Memorandum and Articles of Association shall be amended accordingly. (End)

    The first part of this announcement is missing from the archive.
  36. (continuation of news of SUMMITPOWER): 7. There will be a one year lock-in on the converted Ordinary Shares from the dat

    (continuation of news of SUMMITPOWER): 7. There will be a one year lock-in on the converted Ordinary Shares from the date of issue of the Preference Shares. 8. The Preference Shares will not be listed and/or publicly placed. However, these will be transferable like any other shares.9. The fund raised from the aforesaid Preference Share Issue will be used for capital expenditures, repayment of bank loans and working capital.10. An Information Memoranda will be used to facilitate investment in the aforesaid Preference Share Issue. (cnt.-4)

    The first part of this announcement is missing from the archive.
  37. (continuation of news of SUMMITPOWER): 4. Ordinary Shareholders on Record Date on 07 April 2010 will have the prerogativ

    (continuation of news of SUMMITPOWER): 4. Ordinary Shareholders on Record Date on 07 April 2010 will have the prerogative to subscribe for 55,59,840 Preference Shares as above on a 4:1 basis, i.e., shareholders holding 4 (four) existing Ordinary Share will have the option to subscribe for 1 (one) Preference Share within 29 May 2010. 5. The unsubscribed Preference Shares referred to in paragraph 4 above; and remaining 1,44,40,160 Preference Shares will be privately placed.6. Preference Shares will be issued on 30 May 2010 provided SEC's consent to the aforesaid Preference Share Issue is obtained prior to that date. (cnt.-3)

    The first part of this announcement is missing from the archive.
  38. (continuation of news of SUMMITPOWER): 1. The Preference Shares shall be converted into Ordinary Shares on 30 June 2010

    (continuation of news of SUMMITPOWER): 1. The Preference Shares shall be converted into Ordinary Shares on 30 June 2010 at 20% discount to the weighted average price of the Dhaka Stock Exchange on the trading days during the period from 30 May to 29 June 2010 subject to a minimum of Tk. 1,150 per share.2. Once Preference Shares are converted into Ordinary Shares; and lock-in period thereof expires, such ordinary shares shall be listed like other ordinary shares of the Company in the stock exchanges and tradable thereat.3. An interim dividend at 2.5% will be paid on 30 June 2010 against the preference shares. Record date for interim dividend on Preference Shares shall be 30 June 2010. (cnt.-2)

    The first part of this announcement is missing from the archive.
  39. The company has informed that the Board of Directors of the company has decided to issue upto 2,00,00,000 Fully Converti

    The company has informed that the Board of Directors of the company has decided to issue upto 2,00,00,000 Fully Convertible, 2.50% Dividend, Preference Shares of Taka 100 each amounting to Tk 200,00,00,000 on the following terms and conditions subject to approval of the shareholders of the Company in their Extra-Ordinary General Meeting (EGM) to be held on 29 April 2010 (with Record Date on 07 April 2010) at 10-30 AM at Bangobandhu International Conference Center (BICC), Agargaon, Dhaka and SEC's consent to the aforesaid Preference Share Issue:- (cnt.-1)

  40. The company has also informed that Board of Directors of Summit Uttaranchol Power Company Limited and Summit Purbanchol

    The company has also informed that Board of Directors of Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited, both are 99% subsidiaries of Summit Power Ltd., have declared 20% and 15% stock dividend respectively for the financial year 2009.

  41. There will be no price limit on the trading of the shares of the company today (30.03.10) following its corporate declar

    There will be no price limit on the trading of the shares of the company today (30.03.10) following its corporate declaration.

  42. The Board of Directors has recommended stock dividend @ 25% (i.e., 1 Bonus share for every 4 shares) for the year 2009.

    The Board of Directors has recommended stock dividend @ 25% (i.e., 1 Bonus share for every 4 shares) for the year 2009. Date of AGM: 29.04.10, Time: 11:30 AM, Venue: Bangabandhu International Conference Centre, Agargaon, Sher-E-Bangla Nagar, Dhaka. Record date: 07.04.10. The company has also reported EPS of Tk. 31.41, NAV Per share of Tk. 195.73 and Net Operating Cash Flow Per share of Tk. 35.12 for the year ended on 31.12.09.

  43. As per regulation 30 of DSE Listing Regulations, the company has informed that a meeting of the Board of Directors of th

    As per regulation 30 of DSE Listing Regulations, the company has informed that a meeting of the Board of Directors of the company will be held on march 29, 2010 at 4:00 PM to consider its accounts for the year ended 31st December, 2009, appropriation of profits and to fix the date, time and venue of the 13th AGM.

  44. The company has informed that Mr. Md. Latif Khan has been elected as the new Vice-Chairman of the company.

    The company has informed that Mr. Md. Latif Khan has been elected as the new Vice-Chairman of the company.

Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.